Computer Sciences beat estimates after the close on Thursday, but Network Appliance
warned of an earnings shortfall.
CSC reported earnings of 58 cents a share, three cents ahead of estimates. Revenues rose 8.6% to $3.58 billion, also topping forecasts. The company’s guidance was a little light of expectations, however, and the stock slipped slightly in after-hours trading.
Shares of NetApp fell 3.5% after the company warned that earnings and revenues will come in lower than expected due to slow initial sales of new midrange products. The company will officially release results Aug. 17.
Also after the close, WebMD announced a 5-cent profit and a name change to “Emdeon.” The ticker symbol will remain HLTH. And the highly-anticipated IPO of Chinese search provider Baidu.com
was expected to price.
Stocks fell sharply during the day on weaker than expected retail sales and jitters ahead of Friday’s monthly jobs report.
The Nasdaq lost 25 to 2191, the S&P dropped 9 to 1235, and the Dow tumbled 87 to 10,610. Volume declined to 1.95 billion shares on the NYSE, and 1.63 billion on the Nasdaq. Decliners led 22-10 on the NYSE, and 21-9 on the Nasdaq. Downside volume was 71% on the NYSE, and 74% on the Nasdaq. New highs-new lows were 167-20 on the NYSE, and 128-24 on the Nasdaq.
Shares of EDS surged 8.6% after the company raised guidance sharply for the second time in a week.
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soared on their results.
Epiphany rose 5.6% on news that the company will be acquired by SSA
.
NetIQ fell 9% on its results.