RealTime IT News

Ask Jeeves Fails To Please

Ask Jeeves tumbled 15% after hours Wednesday despite reporting results that met Wall Street expectations.

Ask Jeeves reported third-quarter earnings of 25 cents a share, meeting analyst estimates, and revenues grew 178.5% year-over-year to $75.7 million, topping $74.8 million forecasts. But fourth-quarter revenue guidance of $86 million was under $87.7 million estimates, and 2005 guidance also came in at the low end of estimates.

Also after the close, JDS Uniphase warned, Sierra Wireless and Quest beat estimates, SonicWall and Akamai met estimates, LSI Logic and ESS missed and warned, Ariba beat earnings estimates but missed revenue estimates, and Photon warned.

Stocks soared during the day on a big drop in oil prices.

The Nasdaq soared 41 to 1969, the S&P 500 gained 14 to 1125, and the Dow surged 113 to 10,002. Volume rose to 1.75 billion shares on the NYSE, and 2.1 billion on the Nasdaq. Advancers led 22-10 on the NYSE, and 21-9 on the Nasdaq. Upside volume was 73% on the NYSE, and 83% on the Nasdaq. New highs-new lows were 237-28 on the NYSE, and 163-58 on the Nasdaq.

Sina.com and Microstrategy soared after beating estimates, and Adobe gained 4% after raising guidance.

Nortel lost 3% after delaying its results.

Stocks gaining on earnings reports included Avaya , Veritas , Tessco , Atmel , Symbol , Avid , Openwave , Tekelec , F5 , Kforce , Activision , UTStarcom , Websense , Varian , Red Envelope and RF Micro .

Blue Nile , Level 3 , Zoran , iPass and Pegasus fell on their results.