(FOOL GLOBAL WIRE) LEXINGTON, KY. (July 30): Today's session was mixed as the market bounced around, trying to decide whether to read the ever-present flurry of economic news positively or negatively. Most traders are still waiting patiently (or not) for Friday's monthly employment report, but this morning's quarterly employment cost index was better than expected, so the bond and stock markets were slightly buoyed by the news.
In Investing For Growth news, 3Com <% if gsSubBrand = "aolsnapshot" then Response.Write("(NASDAQ:COMS)") else Response.Write("(NASDAQ:COMS)") end if %> announced that it has begun operations in Pakistan. The networking market there is estimated at $5 million in 1996 and is expected to grow 75% annually over the next four or five years.
At the company's annual gathering of analysts, Eric Benhemou, Chairman and CEO, claimed the company is gaining on its competitors. "We're gaining share in all our core markets, and in new geographies as well," he said, adding that the company is differentiating its strategy from that of its top rivals.
Hewlett-Packard <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:HWP)") else Response.Write("(NYSE:HWP)") end if %> announced that it's formed a business alliance with Novell <% if gsSubBrand = "aolsnapshot" then Response.Write("(NASDAQ:NOVL)") else Response.Write("(NASDAQ:NOVL)") end if %> to handle networking operation in the Asia-Pacific region. Under the agreement, HP will sell Novell's software together with HP hardware and support services. HP and Novell officials said at the signing the two companies would announce other types of services under the alliance in the future.
And finally, Paychex <% if gsSubBrand = "aolsnapshot" then Response.Write("(NASDAQ:PAYX)") else Response.Write("(NASDAQ:PAYX)") end if %> traded ex-dividend today, paying out 6 cents per share. The cash dividend shows up in this evening's numbers, even though in reality the dividend wouldn't appear in your mailbox (or brokerage account) for a few weeks.
Transmitted: 7/30/96 | ||||||||
INVESTING FOR GROWTH MODEL (7/30/96) | ||||||||
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