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(FOOL GLOBAL WIRE) LEXINGTON, KY. (October 8): Two of the new IFG stocks picked up analyst coverage today. Oppenheimer started coverage of Nautica Enterprises <% if gsSubBrand = "aolsnapshot" then Response.Write("(NASDAQ:NAUT)") else Response.Write("(NASDAQ:NAUT)") end if %> with an "outperform" rating and Chicago Corp. started coverage of Green Tree Financial <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:GNT)") else Response.Write("(NYSE:GNT)") end if %> with a "buy" rating.
The Chicago Corp. analyst said Green Tree's aggressive diversification puts it in large-growth segments of the specialty finance market. The company's estimate for Green Tree's third quarter is $0.61 per share.
Late yesterday, 3Com Corp. <% if gsSubBrand = "aolsnapshot" then Response.Write("(NASDAQ:COMS)") else Response.Write("(NASDAQ:COMS)") end if %> announced an agreement to acquire OnStream Networks. 3Com is looking to bolster its position in the growing ATM (asynchronous transfer mode) market with this acquisition, a $245 million deal. 3Com said OnStream's ATM access products will offer a less-expensive alternative for customers who might otherwise install a router and a switch combination.
3Com will exchange 3.8 million shares and options to purchase its shares, for all outstanding shares and options of OnStream. The transaction will be accounted for as a pooling of interests, and is expected to close by November 30. 3Com said it expects the acquisition will produce a "slight" dilution to earnings in 1997.
In other IFG movers on no news, ADC Telecom <% if gsSubBrand = "aolsnapshot" then Response.Write("(NASDAQ:ADCT)") else Response.Write("(NASDAQ:ADCT)") end if %> and SCI Systems <% if gsSubBrand = "aolsnapshot" then Response.Write("(NASDAQ:SCIS)") else Response.Write("(NASDAQ:SCIS)") end if %> both posted hefty gains while Nike <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:NKE)") else Response.Write("(NYSE:NKE)") end if %> fell over $3 a share and Mirage Resorts slipped nearly 2.5%.
Transmitted: 10/8/96 |
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