3Com Dives 35.5% on Earnings Warning, Revised Revenue Forecasts

3Com

(COMS)

was down 35.5% in preopen

Island

trading. After the close Monday, the network equipment maker reduced its earnings and revenue forecasts, citing the downturn in the telecom sector. 3Com company predicted a second-quarter loss of 19 to 23 cents per share, down from the previous estimate of a 7-cent to 9-cent loss.