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FOOL GLOBAL WIRE LEXINGTON, KY. (November 20): It was a mixed day for the Nasdaq. At one point late in the afternoon, the index was up more than 9 points (the roughly equivalent of 45 Dow points) before traders started locking in some profits and the index closed with a modest 2-point gain.
And the results were equally mixed for our Investing for growth model holdings. Stocks like SCI Systems, Tellabs, and ADC Telecom were off fairly significantly, but 3Com tried to save the day with a very nice gain.
3Com was the only stock of the group with any news coming across the wire. Pac Bell, a unit of Pacific Telesis Group, has announced a fast Internet connectivity package which includes its ISDN service and 3Com's new ISDN external model. Pac Bell claims the solution will eliminate a common frustration for many Internet users who currently have ISDN access, but no useful external modem that allows them to take advantage of the higher-speed connections. And for those IFG followers struggling to make sense of Claire's Stores recent demise, spokesmen for the company appeared at the Southeast Research Partners Conference in Ft. Lauderdale today and tried their best to paint a positive picture. According to the company, Claire's sees itself as strong financially, predictably profitable, well managed, with strong inventory and cost controls in place, its target customers comprise a growing marketplace, its stores are in the right locations, and the company is growing steadily, domestically and internationally. Now if only the stock would behave!
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