eBay Posts Blow-Out Earnings
eBay posted strong earnings after the bell on Thursday, joining a string of technology companies trading higher after hours on good earnings news, including Microsoft and Nortel Networks.
Stocks rose during the day, buoyed by strong earnings from Check Point Software and IBM. Rumors of another Fed rate cut in the wake of the California utility crisis also boosted stocks.
The ISDEX http://www.wsrn.com/apps/ISDEX/
eBay
During the day, Check Point
i2 Technologies
Travelocity.com
Vignette
Other earnings warnings came from Scient
Mercury Interactive
Analysts dismissed yesterday's speculation that Yahoo
Openwave
Networkers had a tough time despite positive earnings from Redback Networks
NBC Internet
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.afterhourstrading.com/column.html< rose 4 to 411, and the Nasdaq climbed 85 to 2768. The S&P 500 added 18 to 1347, and the Dow rose 93 to 10,678, boosted by IBM's earnings. Volume declined to 1.3 billion shares on the NYSE, and 2.5 billion on the Nasdaq. Advancers led by 16 to 12 on the NYSE, and 21 to 17 on the Nasdaq. Economic reports continued to show a significant slowdown in manufacturing. 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.
soared 7 to 50 after posting earnings of 9 cents a share, 2 cents better than estimates. Microsoft
, Commerce One
, and Nortel
all traded higher after hours on good earnings news. Sun Microsystems
traded slightly lower after coming in light on revenues, and Critical Path
plunged 15 points to 10 after missing estimates.
soared 11 7/16 to 138 after beating estimates by 8 cents with 46-cent earnings and declaring a 3-for-2 stock split.
beat estimates by a penny with 9-cent earnings, but the stock fell 2 7/8 to 51 on concern about competition from the likes of Oracle
and comments that business could slow .
surged 4 3/8 to 19 5/16 after beating estimates by 9 cents with a 5-cent loss. Expedia
rose 2 1/4 to 14.
plunged 4 3/4 to 7 3/4 on an earnings warning. BroadVision
fell 2 1/4 to 15, and Art Technology
lost 4 1/2 to 20 3/8.
, down 7/16 to 3, S1
, off 1 1/4 to 6 1/2, Entrust
, down 3/4 to 16 5/8, and Jupiter Media Metrix
, down 1 1/16 to 7 3/8.
surged 8 1/8 to 89 1/16 after beating estimates by 4 cents with 28-cent earnings. Marimba
, up 25/32 to 7 29/32, beat estimates by 6 cents with a 1-cent loss.
could be a takeover target, but traders didn't appear to be listening, sending the stock 4 1/8 higher to 34 3/8.
continued to rise on positive analyst comments, climbing 2 1/4 to 49 3/8, but off its intraday high of 53 1/4.
, down 7 11/16 to 40 7/8, Extreme Networks
, down 5 1/2 to 42 3/8, Avici
, off 1 to 33 15/16, and Efficient Networks
, off 15/16 to 13 1/2.
slipped 3/16 to 4 after announcing 30% layoffs.