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

To: joe who wrote (17195)	6/9/1998 6:47:00 PM
From: Mang Cheng	Respond to of 45548

"3Com Confirms Chief Operating Officer Search" (06/09/98; 10:19 a.m. ET) By Shawn Willett, Computer Reseller News 3Com said it is searching for a chief operating officer to take over some day-to-day operations of the company from current CEO Eric Benhamou. But a 3Com (company profile) spokesperson denied reports that surfaced last week that the company was looking for a president or CEO to replace Benhamou. Company officials did not say when they thought a new COO would be in place. But investors are looking for a sign that the Santa Clara, Calif., company is ready to aggressively battle competitors such as Cisco [CSCO] again. The internetworking company [COMS], which posted only a 4 percent increase in sales in its most recent quarter, has struggled to digest U.S. Robotics and create a new channel inventory model. "The bottom line is when they bought U.S. Robotics, they bought a lot more problems than they anticipated," said Al Tobia, analyst at NationsBanc Montgomery Securities, in San Francisco. "It has been a year of trying to find out where the skeletons are. The inventory situation at U.S. Robotics was terrible." Tobia said it appears that U.S. Robotics "jammed a lot of distributors in the Far East" with inventory, then "bought them and took a write-off on what they bought." techweb.com

To: joe who wrote (17195)	6/9/1998 8:12:00 PM
From: chenys	Respond to of 45548

Contrary to Wayne, I tend to believe that those 2100 calls were bought not sold. I don't see MMs willing to let them get away by selling for 1/8 while the bid was 1/16. Today coms was above 27.5 but the THQFZ (june 32.5 call) was still 1/8 to 1/16, not even a blip while coms changed from low 26 to 27+. No matter what, one needs to pay attention to the OI and see if these calls were from the buy-back by those who wrote the cover calls on the way down. Now the tide has changed and it is time for redemption. Crazy things do happen, now sit tight and wait for 35 next week.