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Technology Stocks : 3Com Corporation (COMS) -- Ignore unavailable to you. Want to Upgrade?

To: Dwight E. Karlsen who wrote (11536)	12/4/1997 3:53:00 AM
From: Bingo Boy	Read Replies (1) \| Respond to of 45548

* Hambrecht & Quist LLC cut its rating on shares of 3COM CORP to a hold after computer networking company 3Com Corp said it will cut inventory and report second-quarter earnings below Wall Street expectations. It cut fiscal 1998 earnings estimate to $0.86 a share from $1.74 a share. Cut fiscal 1998 revenue estimate to $5.6 billion from $6.6 billion. It expects the company's channel inventory "will not be fixed on one quarter" and the company's standard for 56K modems "has about a 50% chance of going through." (Reuters 12:17 PM ET 12/03/97) * Bear Stearns maintained its buy rating on 3COM CORP, but lowered its earnings estimates for the company, a Bear Stearns source said. The fiscal 1998 estimate went to $1.15 per share from $1.41. The 1999 estimate went to $2.50 from $2.70. Also, Prudential Securities kept its hold rating on 3Com, but lowered its earnings estimates for the company, a Prudential source said. The 2Q estimate went to $0.04 per share from $0.43. The fiscal 1998 estimate went to $1.10 from $1.95. The 1999 estimate went to $1.85 from $2.60. (Reuters 10:08 AM ET 12/03/97) * Donaldson, Lufkin & Jenrette lowered its rating on 3COM CORP to market perform from buy, and lowered its earnings estimates for the company, a market source said. The 1998 earnings estimate went to $0.92 per share from $2.30. The 1999 estimate went to $1.75 from $3.00. Additionally, Gruntal & Co said analyst David Takata cut 2Q and fiscal 1998 earnings per share esimates for 3Com. 2Q cut to $0.02 from $0.52, fiscal 1998 cut to $1.23 from $2.17. (Reuters 10:43 AM ET 12/03/97) * Lehman Brothers confirmed it downgraded 3COM CORP and cut earnings estimates for 1998 and 1999 after the company warned late Tuesday its second quarter results would be weaker than expected. Cut rating to neutral from outperform. Cut fiscal 1998 estimate to $1.00 per share from $2.25 and 1999 estimate to $1.95 from $3.00. In a note, analyst Tim Luke said, "uncertainties remain regarding impact of more inventory cuts, delays in 56K modem standard, outlook for Asian sales and adapters, and pricing issues for lower end systems." (Reuters 10:48 AM ET 12/03/97) Greetings, Bingo's shadow