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Hot Stock Alert (NASDAQ:COMS) Up 32% on Acquisition
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3Com Corporation (NASDAQ:COMS) soared 32% to $7.51 after Hewlett-Packard Company (NYSE:HPQ) said late Wednesday that it will acquire 3Com Corp. for $2.7 billion, adding a stories tech giant to its growing arsenal and taking direct aim at Cisco Systems Inc. in the market for networking, servers and storage products. The deal values 3Com at $7.90 a share and should close during the first half of 2010. H-P also announced preliminary results for its fiscal fourth-quarter, with revenue beating expectations, while earnings fell short.
3Com Corporation (3Com) is a global enterprise networking solutions provider. 3Com has three global product and solutions brands: H3C, 3Com, and TippingPoint that offer networking and security solutions to enterprises large and small.
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