RealTime IT News

LookSmart Looks Good

LookSmart surged 15% after hours on Tuesday after beating estimates and raising guidance.

Second-quarter earnings of a penny a share beat analysts' estimates by a cent, and an 83% jump in revenues to $38.4 million topped estimates by $3 million. Third-quarter and full-year revenue guidance also exceeded expectations.

With Yahoo's acquisition of Overture narrowing the field of paid search providers, strong results could make LookSmart an even more desirable takeover candidate.

Also after the close, MicroStrategy blew away estimates, but guidance was a little light. Answerthink beat and raised guidance. JNI missed estimates, and Genesis Microchip warned.

The broader market fell during the day on a surprising plunge in consumer confidence and renewed terrorist warnings.

The Nasdaq lost 4 to 1731, the S&P 500 fell 7 to 989, and the Dow dropped 62 to 9204. Volume rose to 1.42 billion shares on the NYSE, and 1.71 billion on the Nasdaq. Decliners led 20-12 on the NYSE, and by a few issues on the Nasdaq. Downside volume was 68% on the NYSE, and 55% on the Nasdaq. New highs-new lows were 139-56 on the NYSE, and 227-13 on the Nasdaq.

NetEase.com surged 14% on strong results.

Immersion Corp. soared 128% on a deal with Microsoft , while Sonic surged 12% on its own deal with the software giant.

Priceline fell 7% on a convertible offering.

Intel managed to finish higher despite wireless competition.

NVIDIA and Macrovision fell on their earnings reports, while ValueClick edged higher on its results.

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