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Technology Stocks : Ascend Communications (ASND) -- Ignore unavailable to you. Want to Upgrade?

To: djane who wrote (46197)	5/7/1998 4:46:00 PM
From: Darren	Read Replies (1) \| Respond to of 61433

ASND should be back up tomorrow (if general market holds) as Wall St. realizes that COMS problems are unrelated to ASND. Low volume today on ASND. Maybe I'll get my 2nd long-term entry point. djane IMO, not in this market. I think Tuesday was a more accurate reflection of the current ASND trading environment than Wednesday (because of CSCO earnings)...today was just a return to Tuesday's levels before the CSCO news. Someone recently mentioned on CNBC the "water torture" correction, and I think that is accurate, at least until the May 19th Fed Meeting. One important bearish indicator was the S&P futures falling below 1100 at the end of market today. That is huge, especially if it doesn't kick above 1100 early tomorrow morning. Looks to me like we are entering a buy on the big dip opportunity before the summer run-up...

To: djane who wrote (46197)	5/7/1998 5:03:00 PM
From: gbh	Read Replies (2) \| Respond to of 61433

I think the short-term market hinges on tomorrow mornings release of job growth data. Strong job growth will be BAD for the market, and it will result in a market drubbing (100-200 points, at least). On the other hand, a weak number may (yes, only may) mean we get back much of the 160 points lost the last couple of days. Fed comments today by Alice Rivlin (posted of DBC) seem to indicate the FED is itching to increase rates, and may have been in effect, leaking this jobs data. We all know the raising of rates will, short-term, whack the market. I for one will be buying on any type significant ASND dip. As will many others, I presume. Therefore, it seems unlikely we will see a significant dip (say to 40). Any opinions? Gary

To: djane who wrote (46197)	5/7/1998 6:54:00 PM
From: djane	Read Replies (1) \| Respond to of 61433

3Com Shares Fall Amid Concern About Sales Growth (Update1) [from COMS thread. Includes quote from Johnson (BARS)] (Adds analyst comments, details; updates stock price.) Santa Clara, California, May 7 (Bloomberg) -- 3Com Corp. fell as much as 7 percent on concern that sales at the No. 2 computer networking company will continue to fall amid competition from No. 1 Cisco Systems Inc. and other rivals. 3Com fell 2 9/32 to 32 1/8 in late trading of 25.2 million, making it the third-most active stock in U.S. markets. Earlier, the shares touched 32. Profit at 3Com fell more than 90 percent last quarter on lower sales and inventory problems related to its June acquisition of U.S. Robotics Corp. Investors are concerned that the company is losing its share of key markets to Cisco, which on Tuesday reported strong profit and revenue growth. ''There's concern about market share,'' said Richard Slinn, a money manager at Van Kasper & Co., which owns shares of networking companies. While 3Com, Bay Networks Inc. and others reported lower profit amid steep price cuts, Cisco's strong relationship with existing customers lets it sell a range of equipment that helped bolster its profit margin. In addition, computer networking companies are starting to compete for the fast-growing market for equipment sold to phone companies and online service providers. Cisco Chairman John Chambers has said he expects sales to the so-called service provider or carrier market to contribute most of the company's revenue by 2002. ''All networking companies are trying to do this, but it's unclear whether 3Com has been successful yet,'' Slinn said. Investors 3Coms' lackluster sales and difficulty in turning itself around may be prompting institutional investors to sell. A spokeswoman for Salomon Smith Barney Inc. said her firm executed a block trade of 6 million shares at 32 13/32 at midmorning today. The spokeswoman said the trade was made by one seller, whom she declined to name. ''At some point, large investors are going to lose patience and they're going to throw in the towel,'' said Martin Pyykkonen, an analyst at CIBC Oppenheimer Corp., who rates 3Com ''hold.'' ''It sounds like that's going on today.'' Santa Clara, California-based 3Com's profit before a gain in the fiscal third quarter ended March 1 fell to $7.41 million, or 2 cents a share, from pro forma profit before a gain of $161.2 million, or 45 cents, in the year-earlier period. Analysts surveyed by IBES International Inc. had expected 3Com to earn 13 cents. By comparison, Cisco's fiscal third-quarter profit before charges rose 35 percent to $483.2 million, or 45 cents a share, compared with profit before a gain of $358 million, or 35 cents, a year ago. ''People expected (3Com) to have it turned around already,'' said Paul Johnson, an analyst at BancAmerica Robertson Stephens. He added that 3Com had no new product introductions or news at the Networld+Interop show in Las Vegas this week indicating its next few quarters will improve. o~~~ O