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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: Sawtooth who wrote (28205)	4/23/1999 4:08:00 PM
From: quidditch	Read Replies (1) \| Respond to of 152472

Tim: From Marketwatch: By Janet Haney, CBS MarketWatch Last Update: 3:40 PM ET Apr 23, 1999Also: NewsWatch SANTA CLARA, Calif. (CBS.MW) -- Shares of 3Com jumped 17 percent Friday after acquisition talk swept Wall Street. COMS NASD <Picture: ------->LastChg.25 15/16+3 5/8% Chg.Vol.+16.25%32,687,500Day Lo.Day Hi.22 1/1627OpenPrev.22 3/822 5/16<Picture: -------> As of Apr 23/99 4:04 pm ET Last Trade Apr 23/99 3:49 pm ET 15 MIN. DELAY Speculation has circulated recently that Intel (INTC: news, msgs), Ericsson (ERICY: news, msgs) or Siemens AG is interested in taking over the company. 3Com's (COMS: news, msgs) director of public relations, Bob Ingols, told CBS.MarketWatch.com that the company doesn't comment on rumors and speculation regarding acquisitions or mergers. Shares of the Santa Clara, Calif.-based company gained 3 3/4 to 26 1/16 on volume of 29.5 million shares, about three times its three-month average daily volume. The struggling stock remains at about half its 52-week high, notched last December. Christin Armacost, analyst at Everen Securities, told CBS.MarketWatch.com that "these rumors are not new." She said she believes the rumors hit today based on both Siemens' and Ericsson's recently announcing earnings numbers. Ericsson announced its earnings results Thursday. <Picture>Today on CBS MarketWatchStocks sag with Ma BellAT&T makes $62 billion MediaOne bidNet retailers surge on profit hopesLooking for growth across the pondStockWatch: Web-telecom 'mingled yarn' rocks U.K.More top stories...CBS MarketWatch ColumnsUpdated: 4/23/99 3:07:08 PM ET<Picture> "Looking at 3Com, if these rumors were to be true," she said, "I think Siemens would be the more likely candidate, just based on (3Com's) previous relationship with Siemens." In December, 3Com and Siemens, based in Germany, announced a $100 million joint venture to offer telephone networking and multimedia products. See archived story. "I think there would be some synergy to that relationship. I'm not actually sure how synergistic Ericsson would be, or Intel," Armacost said. Armacost added that she sees 3Com as engaged in a reorganization process right now. Speculative takeover talk, she said, usually begins when companies have hit hard times, often having disappointed Wall Street. Armacost emphasized that she was not saying she thinks a 3Com takeover is likely. 3Com said it expects to release its fourth-quarter earnings in June. The First Call consensus estimate calls for 3Com to earn 23 cents per share. Ericsson has braced investors for lower earnings in 1999. The Swedish telecom giant reported a profit of 1.3 billion Swedish crowns, or $155 million, in its first quarter. The company saw net sales rise 8 percent to $5 billion. Ericsson also warned it sees lower earnings in 1999 compared with last year's. Shares of the company were up 1/16 to 25 5/8. Regards. Liacos_samui