Priceline beat estimates after the close on Monday, but the company’s forward guidance was a little too cautious for investors.
Priceline’s second-quarter earnings of 32 cents a share beat analysts’ estimates by a penny, and revenues of $259.4 million were also better than expected. But the stock fell 10% after hours after the company warned that third-quarter earnings will come in at 25-30 cents a share, below 31-cent forecasts.
Adobe fared better after hours, climbing 4% after the company raised guidance on strong product demand. In its mid-quarter update, Adobe said it expects earnings of 36-41 cents a share and revenues of $380-400 million, above 34-cent and $377.3 million estimates.
Also after the close, NetEase missed estimates and announced a deal with Google. BEA
lowered revenue guidance. Macrovision
beat estimates, and Sonic
missed.
Stocks managed to post gains during the day despite an early drop on news that U.S. financial sites could become terrorism targets.
The Nasdaq rose 4 to 1892, the S&P 500 gained 4 to 1106, and the Dow rose 39 to 10,179. Volume declined to 1.28 billion shares on the NYSE, but rose to 1.55 billion on the Nasdaq. Advancers led 19-12 on the NYSE, but decliners led 18-13 on the Nasdaq. Upside volume was 62% on the NYSE, and 48% on the Nasdaq. New highs-new lows were 65-41 on the NYSE, and 65-90 on the Nasdaq.
Novell gained 6% on reports of interest from Sun
.
Education stocks like University of Phoenix Online had a rough day after Corinthian Colleges
plunged on a warning.
Synopsis fell 16% on a warning.
Cox surged 20% on news that its parent company may take it private.
Sportsline jumped 10% on news that it will be acquired by Viacom
for $1.75 a share.
Nortel gained 4% on a Goldman Sachs upgrade.
And Google opened its IPO website.
