Techs, Nets Restrained By Blue Chips
A strong rally in technology and Internet stocks faded late in the day on Wednesday, restrained by weakness in blue chip stocks. IBM traded 7% higher after the close after beating estimates.
The ISDEX http://www.wsrn.com/apps/ISDEX/
i2 Technologies
During the day, Intel
Juniper
Handspring
Support.com
VA Linux
Allaire
WebTrends
General Magic
Aether
Yahoo
NorthPoint
USinternetworking
Some technical comments on the market: Note: We are now including charts in the technical market commentary. If you can't get the charts via the e-mail newsletter version, try this link: http://www.afterhours gained 18 to 407, and the Nasdaq climbed 64 to 2682, 74 points off its high. The S&P 500 added 2 to 1329, and the Dow fell 68 to 10,584, weighed down by an earnings miss from 3M. Volume rose to 1.33 billion shares on the NYSE, and 2.8 billion on the Nasdaq. Advancers led by 15 to 13 on the NYSE, and 23 to 15 on the Nasdaq. The Consumer Price Index was in line with expectations, but the Fed Beige Book survey showed economic weakness, weighing on stocks when it was released in the afternoon. 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.
beat estimates by a penny after the close, with 9-cent earnings. The stock added 2 1/4 to 56 after hours, after trading up more than 5 points during the day.
lost 1 1/16 to 30 5/16 after beating estimates, but guiding first quarter results down 15% sequentially, much worse than analysts expected. However, traders were encouraged by the company's claims that business will improve in the second half of the year, and a big boost in capital equipment spending sent chip equipment stocks soaring.
rose 7 to 135, but 10 points off its high, after blowing away earnings and revenue estimates and raising forward guidance. Earnings were 24 cents a share, 6 cents ahead of estimates. Applied Micro
surged 9 5/8 to 80 after beating earnings estimates but coming in light on revenues. Broadcom
rose 10 3/4 to 128 5/8, and PMC Sierra
soared 11 9/16 to 91 1/2.
slipped 3/8 to 44 1/2 after trading as high as 50 3/8 after topping estimates by 9 cents with a 7-cent loss.
rose 2 1/4 to 14 3/4 after beating estimates. Ameritrade
, up 1/16 to 9 7/8, matched estimates.
fell 1 15/16 to 7 3/16 on an earnings warning. Netopia
slipped 17/32 to 5 7/8 after missing estimates.
, up 13/16 to 8 3/4, will be acquired by Macromedia
for 0.2 MACR shares and $3 in cash for each ALLR share. Chicago Board of Options Exchange officials announced an investigation into unusual trading in ALLR options yesterday.
fell 4 to 28 7/8 despite announcing that it will be acquired by NetIQ
for 0.48 NTIQ shares per WEBT share.
rose 15/32 to 2 1/2 on news that voice recognition partner Nuance
will power General Motors' new voice-driven OnStar system.
rose 2 3/4 to 42 11/16 on a deal with E*Trade
.
rose 2 5/8 to 30 on takeover rumors.
was halted at 1 13/32 after filing for bankruptcy protection.
fell 1 to 4 1/16 after lowering forward guidance.