RealTime IT News

Microsoft Blows Away Estimates

Microsoft blew away earnings and revenue estimates after the bell on Wednesday, capping a day in which stocks battled back from a steep plunge.

The ISDEX fell 11 to 607, but well off its low of 588, and the Nasdaq fell 42 to 3171 after plunging to a new yearly low of 3026. The S&P 500 was down 7 to 1342, well above its low of 1305, and the Dow lost 114 to 9975, 300 points off its low. Volume soared to a near-record 1.43 billion shares on the NYSE and 2.5 billion on the Nasdaq. Decliners led by 18 to 9 on the NYSE and 25 to 14 on the Nasdaq. The Consumer Price Index came in stronger than expected, fueling inflation concerns. For earnings reports, visit our earnings calendar and reported earnings. For after hours quotes and news, visit our after hours trading site.

Microsoft rose slightly after hours after beating estimates by more than 10%. Also after the bell, Ariba beat estimates with a break-even quarter, but slumped to 119, 8 points below its close. America Online traded up slightly from its 46 close after beating 13-cent earnings estimates by a penny.

During the day, i2 , up 1 1/32 to 181 3/32, beat estimates by 2 cents with 12-cent earnings and declared a 2-for-1 stock split. PurchasePro also beat estimates, but the stock dropped 7 3/4 to 32 1/2 after a strong rally ahead of the report. Better-than-expected numbers from Intel and Sun also helped, but IBM led the early morning plunge on weaker-than-expected revenues.

Yahoo gained 3 9/16 to 52 1/2 after trading as low as 44 3/8. Amazon.com gained 2 7/8 to 24 13/16 after trading as low as 18.

DSL stocks had a rough day on an earnings miss from Covad , down 5 to 3 19/32, and an earnings warning from Copper Mountain , which plummeted 17 to 9 7/8.

SonicWall , down 5 1/8 to 12, beat estimates, but announced the acquisition of privately-held Phobos and also received a downgrade to Sell from Janney Montgomery Scott. RealNetworks , off 6 3/16 to 15 1/2, met estimates but sold off on Internet advertising concerns. Primus Knowledge rose 25/32 to 6 1/32 despite missing earnings estimates.

Entrust climbed 1 1/2 to 23 on better-than-expected earnings. CheckPoint Software surged 16 to 163 on blow-out earnings of 35 cents, 8 cents above estimates. Handspring soared 15 1/4 to 93 1/8 on another strong quarter.

Also beating estimates were Blue Martini , off 3 3/16 to 32 1/2, EarthWeb , off 7/8 to 8 3/4, Travelocity.com , up 1/8 to 11, Mercury Interactive , down 12 1/4 to 122 5/8, Foundry Networks , down 4 1/8 to 66 7/8, CyberSource , off 1 11/16 to 5 1/2, and Datalink , down 1 1/8 to 12 1/8.

Intraware rose 1 1/4 to 6 5/16 on news of a partnership with IBM . WebMD tacked on 1 5/16 to 10 15/16 on positive comments from Merrill Lynch.

Commerce One , which reports earnings tomorrow, lost 4 7/8 to 59 7/8.

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