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RealTime IT News

JDSU Comes Through

JDS Uniphase beat revenue and earnings estimates after the bell on Thursday, giving hope to optical networking stocks, which recovered in the afternoon after two days of heavy selling.

The ISDEX finished unchanged at 606 after setting a new yearly low earlier in the day, and the Nasdaq rose 42 to 3272, a 190-point comeback. The S&P 500 slipped fractionally to 1364, and the Dow rose 53 to 10,380. Volume rose slightly to 1.3 billion shares on the NYSE and 2.3 billion on the Nasdaq. Advancers led by 14 to 13 on the NYSE, but decliners edged advancers on the Nasdaq. The employment cost index provided some relief from inflation worries, but traders were more concerned about tomorrow's GDP report. Dallas Fed President Robert McTeer said yesterday that the GDP report could come in much weaker than expected, fueling fears of a sharp economic slowdown. For earnings reports, visit our earnings calendar and reported earnings. For after hours quotes and news, visit our after hours trading site.

JDS Uniphase surged 8 points to 82 after hours after the company's 18-cent earnings beat estimates by 2 cents. Revenues of $786.5 million beat estimates of $750-$760 million, and the company guided forward estimates higher. The company traded as low as 62 during the day, as investors were spooked by Nortel's revenue miss on Tuesday. Juniper Networks was off 7 5/8 to 188, well off its low of 159 5/8, and avoiding a breakdown out of a broadening top. A close below 174 would have been a big negative.

Inktomi did not fare as well after hours. The company beat estimates by 2 cents with 7-cent earnings, but lowered forward guidance, and the stock dropped 7 to 76 in after-hours trading.

During the regular trading session, Amazon.com gained 4 1/4 to 36 1/8 despite a Lehman Brothers report that claimed the company had reclassified $96 million in equity investments as cash, inflating the company's cash level by 10%. Lehman said the reclassification raises balance sheet concerns, and continued to urge investors to avoid Amazon's convertible bonds.

InfoSpace tacked on 1/16 to 20 3/8 after reporting earnings of 3 cents a share, 3 cents better than expected. VeriSign dropped 3 11/16 to 143 3/4 despite blowing away estimates by 12 cents with 18-cent earnings. However, there was some concern about deferred revenues in the report.

webMethods fared better, rising 10 3/8 to 95 3/8 after beating estimates by 11 cents with breakeven results. Vignette fell 3 1/16 to 26 1/8 after matching estimates with a 1-cent loss.

Rare Medium added 11/16 to 5 1/16 after beating estimates by 3 cents with 4-cent earnings. iVillage tacked on 11/32 to 2 3/32 after a better-than-expected loss. Agency.com slipped 7/8 to 10 3/4 after 7-cent earnings beat estimates by a penny.

Evoke lost 11/16 to 4 13/16 on a better-than expected loss. PlanetRX.com slipped 1/8 to 11/32 despite beating estimates. Tanning Technology dropped 2 3/32 to 6 3/16 despite beating estimates by 3 cents with 8-cent earnings.

Modem Media , up 15/16 to 6 1/4, beat estimates by 3 cents with 1-cent earnings. BackWeb rose 1/4 to 6 1/4 after beating estimates by a penny with a 1-cent loss. Peapod rose 1/16 to 1 1/16 despite missing estimates by 9 cents.

barnesandnoble.com rose 5/16 to 4 1/4 on news that the Web site will be