Market Currents

• Tuesday, November 17, 2009

• 14:20 PM Sure, someone may have made a lot of money on 3Com (COMS) options as its acquisition by Hewlett-Packard (HP) was announced, but insider-trading conspiracy theorists are ahead of themselves, says Ultimi Barbarorum. Options deals are lumpy by nature, and it could just be short covering at work. 6 Comments

• Thursday, November 12, 2009

• 09:00 AM Premarket gainers: COMS +33%. CAAS +17%. UBET +15%. YUII +10%. JDSU +7%. CVM +6%.
  Losers: BRCD -12%. GMCR -11%. SAY -5%. ABK -4%. Comment!
• 07:59 AM Analysts were largely enthusiastic about H-P's (HPQ) $2.7B acquisition of 3Com (COMS), saying it was one of the biggest values in the networking space, and second only to Cisco in the breadth of its enterprise portfolio. Cisco responded swiftly, saying on its blog that networking acquisitions "only validate the fact that networking is becoming the platform for all forms of communications and (information technology)." Comment!

• Wednesday, November 11, 2009

• 17:46 PM Hello, new archrival. H-P (HPQ) puts a bow on its growing conflict with Cisco Systems (CSCO) by acquiring 3Com (COMS) on the cheap. Therese Poletti noted last month (while speculating about an H-P/Brocade (BRCD) tie-up) how former partners H-P and Cisco have gotten increasingly unfriendly, with Cisco making servers and H-P reinvesting in networking and even video-conferencing; your move, Cisco. (WSJ Digits liveblogs H-P call) 4 Comments
• 17:30 PM Wall Street notices today's unusual rush in volume on 3Com (COMS) call options (highest since September 2007) before the after-hours announcement of the company's acquisition by Hewlett-Packard (HPQ). OptionMonster has a picture of November calls going for $0.65 at 11 a.m. today that should go to $2.90 tomorrow - 350%, nice work for a day. 8 Comments
• 16:46 PM Shares in 3Com (COMS) resume trading, up 35% on news of Hewlett-Packard's (HPQ) agreement to pay $2.7B in cash for the network gear maker. The deal, approved by both boards, is expected to close in the first half of 2010. Update 5:00 p.m.: [[HPQ]] -0.5% AH. Brocade (BRCD) - the last independent networking company - down 7% AH as it's passed over for acquisition. 1 Comment
• 16:19 PM Hewlett-Packard (HPQ) to acquire networking equipment firm 3Com (COMS) for $2.7B. H-P late trading halted. [[COMS]] halted at $5.62; H-P's agreement pays $7.90/share in cash. (PR) Comment!

• Thursday, September 24, 2009

• 08:13 AM 3Com (COMS): FQ1 EPS of $0.08 beats by $0.03. Revenue of $290M (-15.2%) vs. $278M. Shares +4.6%. (PR) Comment!
• 00:05 AM Notable earnings before Thursday's open: COMS, MKC, RAD, SCS, TXI Comment!

• Thursday, July 9, 2009

• 08:03 AM 3Com (COMS): FQ4 EPS of $0.10 beats by $0.05. Revenue of $295M (-8.2%) in-line. Shares +7.4% premarket. (PR) Comment!
• 00:05 AM Notable earnings before Thursday's open: COMS Comment!

• Thursday, March 19, 2009

• 18:54 PM 3Com (COMS): FQ3 EPS of $0.13 beats by $0.03. Revenue of $325M (-3.5%) vs. $332M. Shares -0.4% AH. (PR) Comment!
• 00:10 AM Notable earnings after Thursday's close: BBI, COMS, PALM Comment!

• Thursday, December 18, 2008

• 16:07 PM 3Com (COMS): FQ2 EPS of $0.12 beats by $0.03. Revenue of $355M (+11.6%) vs. $342M. (PR) Comment!
• 15:10 PM Notable earnings after Thursday's close: ACN, COMS, DRI, ORCL, PALM, RIMM, ZQK Comment!
• 00:10 AM Notable earnings after Thursday's close: ACN, COMS, DRI, ORCL, PALM, RIMM, ZQK Comment!