Read Larry Connors' blog – Short Term Trading Strategies
3Com (COMS | Quote | Chart | News | PowerRating) is due with its Q1 results after the closing bell tonight, and analysts expect the company to report a profit of $0.06 per share on revenue of $337 million, according to Thomson Reuters.
COMS is holding a longer-term narrowing trend between the sessions following after-hours earnings events, cutting back or reversing direction in nine of the 15 quarters for which we have data. In the near-term, the stock has narrowed its share move in three of the last four quarters.
(We have no data for the quarters reported on Dec. 19, 2007 and Sept. 20, 2007, a period where COMS was under agreement to be acquired by a private equity firm.)
On June 24, 2008, the stock finished evening trading up 6.3% after reporting ahead of the Street with Q4 results. The gain was trimmed sharply and the stock ended up just 0.4% the next day.
On March 24, 2008, COMS advanced 5% in after-hours trade after beating Q3 expectations. It saw that upside narrow in the March 25 regular session, ending the day up 3.5%.
On June 28, 2007, COMS shed 3.9% in evening action after coming in shy of revenue expectations. The stock headed lower the following day, closing out the June 29 regular session down 8.4%.
On March 22, 2007, COMS edged up 2.9% in evening trade despite missing Q3 sales estimates. Shares cut back those gains the next day, ending the day session up 2.1%.
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