3Com shares surge on reduced Q1 losses

NEWS 3Com stock rose from $13.9375 to $16.0265 on the Instinet trading system after reporting a loss of $41.3m, excluding extraordinary items. The company had predicted a pro-forma loss of between $68m and $90m, with many analysts putting the figure much higher. 3Com has undergone massive restructuring this year after it decided to jettison much of its core networking business in March - specifically its modem and high-end networking operations, which it sold to Extreme Networks.