dcsimg
RealTime IT News

Intel Beats Estimates, IBM In Line

A sharp down day on Wall Street ended on a hopeful note after the close, as Intel beat reduced earnings estimates and IBM matched expectations. i2 Technologies also beat estimates after the close and declared a 2-for-1 stock split.

The ISDEX dropped 36 to 619, or more than 5%, and the Nasdaq fell 76 to 3213. The S&P 500 was down 24 to 1349, and the Dow lost 149 to 10,089. Volume rose to 1.17 billion shares on the NYSE and 1.92 billion on the Nasdaq. Decliners led by 21 to 8 on the NYSE and 27 to 12 on the Nasdaq. There are a lot of big earnings reports this week, including Intel and IBM tonight, and Microsoft and Sun Microsystems tomorrow. The Consumer Price Index tomorrow is the big economic report for the week. For earnings reports, visit our earnings calendar and reported earnings. For after hours quotes and news, visit our after hours trading site.

i2 , off 1 1/16 to 183 during the day, hovered around that level after hours after the stock beat estimates by 2 cents with 12-cent earnings and declared a 2-for-1 stock split. Intel rose after hours, but IBM dropped about 8 points from its close on weaker-than-expected revenues.

During the day, America Online dropped 9.17 to 43.44 after Lehman Brothers analyst Holly Becker expressed cautious comments ahead of tomorrow's earnings report. Becker and Merrill Lynch's Henry Blodget later said the selling was overdone, but given Becker's prescient call on Yahoo around 130 some time ago, investors were in a listening mood. Becker also wasn't finished with Yahoo , issuing more negative comments sent that stock lower by 6 to 49 1/4.

BroadVision surged 2 5/16 to 26 1/8 on news that it will be added to the S&P 500. Juniper Networks , which had been considered the favorite to replace PaineWebber, lost 14 1/2 to 228 1/2. Technical note on Juniper: the stock appears to be forming a broadening top, a 5-point pattern that involves 3 higher highs and 2 lower lows (such patterns are sometimes flat-bottomed or topped, and they sometimes go on to set a fourth high). A close below 174 could send Juniper to 120 or lower.

Interwoven added 3 1/4 to 107 after trading as high as 117 on better than expected earnings, a 2-for-1 stock split, and an alliance with Hewlett-Packard. Internet Security Systems gained 6 1/2 to 87 after beating estimates by a penny with 11-cent earnings.

WebTrends gained 2 9/15 to 25 3/8 after beating estimates by a penny with 9-cent earnings. Marimba dropped 5/8 to 5 1/2 after missing estimates by a penny. Cobalt slipped 1 11/32 to 54 27/32 after beating estimates by a nickel with a 1-cent loss. LifeMinders.com lost 1 15/16 to 9 1/2 after beating estimates.

Interactive Pictures dropped 2 1/8 to 2 1/8 after announcing a better-than-expected loss but lower-than-expected revenues. FVC.com dropped 11/16 to 2 1/16 on an earnings warning.

iPrint.com fell 1 1/16 to 2 on a better than expected loss, but lower than expected revenues. McAfee.com lost 3 3/4 to 7 after beating estimates but lowering forward guidance. FreeShop.co



×
We have made updates to our Privacy Policy to reflect the implementation of the General Data Protection Regulation.