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

To: joe who wrote (23634)	10/30/1998 3:01:00 PM
From: Moonray	Respond to of 45548

3Com Rises Amid Optimism for Equipment Contract Win From AT&T Bloomberg - Oct. 30, 1998, 12:29 EST Santa Clara, California, Oct. 30 (Bloomberg) -- 3Com Corp. rose as much as 7.7 percent amid optimism the No. 2 computer-networking company may win a contract from AT&T Corp. to provide products that send voice communications over the Internet. 3Com rose 2 11/16 to 37 in midday trading of 12.5 million shares, making it the third-most active stock in U.S. markets. Earlier, the shares touched 36 13/16. They have risen 19 percent since Oct. 15, the day before 3Com said several large telecommunications providers were testing its newest products for sending voice calls over IP, or Internet protocol, networks. 3Com is racing No. 1 Cisco Systems Inc. and smaller rival Ascend Communications Inc. to develop equipment and software that lets phone companies send long-distance calls over the world-wide data network. AT&T, the world's largest telecommunications provider, and its competitors are looking to buy more voice-over- IP equipment because IP-based networks are more efficient and cheaper to maintain than traditional voice networks. ''People are saying they may have won AT&T's voice-over-IP business,'' said Scott Heritage, an analyst at Warburg Dillon Read who rates 3Com ''hold.'' On Oct. 16, 3Com Senior Vice President Ross Manire said the company's new voice-over-IP software was being tested by ''some of the largest U.S. telecommunications carriers,'' yet wouldn't disclose details. ''We don't comment on speculation regarding any potential contracts,'' 3Com spokesman Steven Plavny said today. AT&T wasn't immediately available to comment. Santa Clara, California-based 3Com had profit before a gain of $86.7 million on revenue of $1.41 billion for the quarter ended Aug. 28 o~~~ O