Openwave Blows Away Estimates
Openwave rose 10% after the bell on Monday after blowing out earnings estimates. Stocks drifted lower during the day on an earnings warning from Dell Computer.
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Openwave
Storage giant EMC
MarchFirst
E.piphany
Drugstore.com
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The Nasdaq and S&P 500 broke down out of their smaller rising channels today (first and second charts), following up on last week's reversal signals. However, we still expect any pullback to be modest, perhaps to the gaps at 2618.55 on the Nasdaq and 2470.72 on the Nasdaq 100, and certainly no lower than 2450 on the Nasdaq, the lower channel boundary in that chart.
slipped 1 to 416, and the Nasdaq lost 12 to 2757. The S&P 500 was unchanged at 1342, and the Dow fell 9 to 10,578. Volume declined to 1.13 billion shares on the NYSE, and 2.02 billion on the Nasdaq. Advancers led by 16 to 12 on the NYSE, and 19 to 18 on the Nasdaq. The Leading Economic Indicators report was the latest to show significant economic weakness. Fed Chairman Alan Greenspan testifies on Capitol Hill on Thursday, a week before the Fed's next meeting. For earnings reports, visit our earnings calendar at http://www.wsrn.com/apps/earnings/internet.xpl and reported earnings at http://www.wsrn.com/apps/earnings/ireported.xpl. For after hours quotes and news, visit our after hours trading site at http://www.afterhourstrading.com.
rose 5 points to 58 after hours after reporting earnings of 9 cents a share, 12 cents better than estimates. Revenue grew 36% sequentially. FreeMarkets
was unchanged at 26 11/16 after beating estimates by 4 cents with a 27-cent loss. Vitesse
fell 6 to 61 after beating estimates by a penny with 25-cent earnings. Texas Instruments
slipped after hours after missing estimates by 2 cents with a 31-cent loss and lowering forward guidance.
, off 13/16 to 76 1/2, reports tomorrow morning.
fell 1 29/32 to 7 after announcing a management reshuffling and a deal with Microsoft
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soared 1 9/32 to 3 5/32 on a CS First Boston Buy rating, based on the company's recent announcement of a $150 million investment from Francisco Partners.
fell 7 55/64 to 29 5/16 after Morgan Stanley Dean Witter lowered earnings estimates on the company. JDS Uniphase
lost 15/16 to 59 7/8 on a Wit SoundView downgrade.
slipped 7/16 to 2 3/16 despite beating estimates by 10 cents with a 45-cent loss.