The Night Watch: Tibco Slides, but Corning Finds Buyers
Investors weren't in a forgiving mood after the close, and several stocks with news were incurring the wrath of their shareholders.
The extra session was even worse for eFunds (EFDS), a provider of payment processing services. The company lowered its guidance and said its chief financial officer is leaving his post at the end of the month, sending the shares plunging 34% to $8.80.
Sierra Wireless (SWIR), another warner, dropped 25% to $4.80 in the wake of its guidance.There were a few bright spots, including Corning (GLW), which rose 6% to $4.79 after the company said it will have cut 1,500 jobs by the end of the week. On the whole, volume was on the lighter side. In the first 90 minutes of the extra session, about 2.5 million shares changed hands on the Instinet platform. Among widely held technology stocks, Lucent (LU) was up 1.6% to $3.18. Cisco (CSCO) was slipping 0.4% to $16.02, and Intel (INTC) was adding 0.2% to $27.55. The Nasdaq 100 Unit Trust (QQQ), Dell (DELL), Sun (SUNW), Siebel (SEBL) and Oracle (ORCL) were flat.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV