This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

3Com Surges After Profit Beat

3Com (COMS) shares traded higher late Tuesday, after the network equipment maker posted better-than-expected top- and bottom-line quarterly numbers.

The Marlborough, Mass., company said it had a fiscal fourth-quarter loss of $166.7 million, or 41 cents a share, widening from a loss of $66.2 million, or 17 cents a share, in the year-ago period. Excluding items, 3Com said it had a profit of 9 cents a share, ahead of the Thomson Reuters average estimate of 5 cents a share.

Revenue rose 3.3% from a year ago to $321.3 million, but was down more than 4% sequentially. That compares to Wall Street's forecast of $315.3 million. Shares of 3Com were jumping 8% in late trading to $2.16.

For the fiscal year 2008, 3Com generated a profit of 23 cents a share on an adjusted basis, as revenue increased 2% from a year ago to $1.29 billion. Both figures were slightly above analysts' forecasts.

"In [fiscal year 2008] we made progress in several key areas, including growing revenue year-over-year in almost every region, increasing our gross margins and generating cash from operations," said CEO Bob Mao in a statement.

Shares of 3Com finished nearly 1% lower during Tuesday's session but were up nearly 6% in late trading to $2.51 a share.

Still, 3Com's stock has dropped 47% in what has been a rollercoaster 2008 as an agreement to take the company private was initially denied U.S. government approval before being retooled and then ultimately dropped in March.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.02 0.00%
FB $104.07 0.00%
GOOG $683.57 0.00%
TSLA $162.60 0.00%
YHOO $27.97 0.00%


Chart of I:DJI
DOW 16,204.97 -211.61 -1.29%
S&P 500 1,880.05 -35.40 -1.85%
NASDAQ 4,363.1440 -146.4150 -3.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs