Xylan's financial officer resigns; investment bank blamed for leak
Article Abstract:
Xylan Corp CFO C. Stephen Cordial has resigned and the company is concerned that its investment banker may have leaked the news before the official announcement. The news sent Xylan's stock price down 12 percent, closing at $37.50 on the Nasdaq Market. Xylan spokesman Douglas Hill claims Robertson, Stephens and Co personnel began telling their clients that Cordial was resigning long before he tendered his resignation. Several managers of institutional funds report they received calls from Robertson, Stephens sales representatives who passed on the news of Cordial's resignation. Robertson Stephens has not responded to the allegations. Robertson Stephens has been closely aligned with Xylan's growth and handled the company's initial and second public offerings. Cordial plans to aid Xylan in a consultant's capacity and will help in the search for a new CFO.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1996
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3Com's shares plunge 30% after firm discloses 4th-period shortfalls
Article Abstract:
3Com Corp's failure to meet its sales and revenue projections for its fiscal 4th qtr has resulted in the computer network equipment vendor's stock falling 30 percent in value. On May 28, 1993, the company's stock fell $11.50 per share to close at $27. Company officials blame the sales and revenue shortfall on on the supply/demand ratio being out of balance. The previous year was a successful one for 3Com. In Jul 1992 3Com's Etherlink III network adaptor began to surge in popularity. Between Jul 1992 and May 1993 the company's stock rose in value from $10 per share to a high of $40. 3Com had difficulty in meeting demand for the Etherlink III, say analysts, and that set up a sales and revenue cycle that was volatile.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1993
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At Next Computer, van Cuylenburg gets high posts
Article Abstract:
Next Computers is hiring Peter van Cuylenburg to be its COO and president. Mr. van Cuylenburg had previously been group director at Cable & Wireless PLC and an executive at Texas Instruments Inc. Van Cuylenburg will report to Steve Jobs and oversee daily managerial tasks with Jobs. Next was founded by Jobs after he was ousted from Apple in 1988. Van Cuylenburg has been described as a good and cautious manager and has experience from Texas Instruments that can be applied to his new job at Next. Next reported sales of $127 million in 1991, a substantial increase from previous years.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1992
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