Cisco Rises After-Hours; Blockbuster IPO Priced Below-Range

OK, everyone ... exhale. Closely watched Cisco (CSCO Quote) reported fourth-quarter earnings just a notch better than expectations, but considering all the pre-earnings anxiety in the Nasdaq Stock Market the news will be music to a lot of tech-tuned ears.

Excluding extraordinary items, Cisco said fourth-quarter earnings were 21 cents a share, a penny better than the 30-analyst estimate, and up from 16 cents a year ago.

Ahead of the news, Cisco was the most actively traded issue on Nasdaq today, with 38 million shares changing hands, and the stock stumbling 1 1/8 to 58 3/4 as investors worried about the potential impact of less-than-happy news. But following earnings news, things were looking brighter, and the stock reportedly was trading at 60 7/8 in after-hours activity.

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Salomon Smith Barney priced Blockbuster's (BBI:NYSE) 31 million-share IPO at $15 a share. The company didn't exactly receive four stars, missing its anticipated price range of $16 to $18.

Major Indices INDEX CHANGE % VALUE YR TO DATE Dow 52.55 -0.5% 10,655.15 +16.1% S&P 500 16.37 -1.3% 1281.43 +4.2% Nasdaq 28.87 -1.2% 2490.11 +13.6% Russell 2000 3.07 -0.7% 422.82 +0.2% TSC Internet 8.37 +1.7% 488.40 +20.2% BOND CHANGE PRICE YIELD 30-Year Treasury 3/32 86 20/32 6.249%

In other postclose news (earnings estimates from First Call; earnings reported on a diluted basis unless otherwise specified):

Earnings/revenue reports and previews

Abercrombie & Fitch (ANF Quote) reported better-than-expected second-quarter earnings of 17 cents a share, ahead of the 17-analyst estimate of 14 cents and up from the year-ago 10 cents. The company said it would open 24 adult stores and 18 stores for kids in the second half of the fiscal year and added that Internet sales were not yet a significant part of its business.

Chico's FAS (CHCS Quote) said it expected to meet the three-analyst expectation of 44 cents a share in second-quarter earnings due to brisk sales.

Intevac (IVAC Quote) revised its second-quarter earnings results to include a patent infringement settlement. The settlement widened Intevac's loss to 23 cents a share in the latest quarter , compared with the previously reported 20-cent loss. The three-analyst estimate had been for a loss of 20 cents.

Vintage Petroleum (VPI Quote) reported second-quarter earnings of 4 cents a share, better than the 16-analyst estimate of a 4-cent loss, and up from an 18-cent loss a year ago. Vintage said it would divest a number of nonstrategic oil and gas properties to improve efficiency and lower its financial leverage.

In other earnings news:

Upside Surprises
Company	Qtr	EPS	First Call View	Yr. Ago EPS	Number of Analysts
Bowne (BNE Quote)	2Q	35c	31c	41c	2
SBS Technologies (SBSE Quote)	4Q	57c	48c	47c	5
WinStar (WCII Quote)	2Q	-$3.53	-$3.71	-$2.76	16

Downside Surprises
Company	Qtr	EPS	First Call View	Yr. Ago EPS	Number of Analysts
Chronimed (CHMD Quote)	4Q	2c	5c	15c	2
Master Graphics (MAGR Quote)	2Q	-28c	5c	-27c	1
Strategic Distribution (STRD Quote)	2Q	0c	1c	1c	2
U.S. Concrete (RMIX Quote)	2Q	27c	28c	22c	2

Miscellany

Neff (NFF Quote) can't seem to figure out why its stock is in the red. The shares closed at 17 5/16 July 30 and have fallen in every trading day since, ending today down 1 5/16, or 11.4%, at 10 1/4. Donaldson Lufkin & Jenrette, the company's financial adviser, is exploring strategies that would bring the company back to greener pastures. Neff said a sale, spinoff or recapitalization are all under consideration.