The Night Watch

The Night Watch: Idec Pharma Heads Lower

 

The extra session was a little on the slow side, but enough companies had news after the close to impact their stock prices.

Idec Pharmaceuticals (IDPH) was in the cross hairs after the company said it would halt clinical trials of an experimental drug because of safety concerns. Idec was falling 7.5% to $35.48 on Instinet after the close.

The top volume mover was Nortel (NT), which was flat with the 4 p.m. EDT close at $1.79. The telecom equipment provider said it brought in $1.475 billion with a recent financing deal.

On the whole, volume was somewhat light. In the first hour and 15 minutes of extended action, about 2.3 million shares changed hands among the 20 most active stocks on the Instinet platform.

Lucent (LU) and Intel (INTC) were unchanged. Cisco (CSCO) was down 0.8%, and WorldCom (WCOM) was off 0.6%.

Tyco (TYC) climbed 13% in regular trading but slipped 0.9% to $11.30 in extended activity.

Comcast (CMCSK) closed at a 52-week low, but ticked up 0.3% to $24.30 after the bell. The Nasdaq 100 Unit Trust (QQQ) was inching ahead 0.2%, while Sun (SUNW) and Microsoft (MSFT) were slightly lower.

The biggest loser was Numerical Technologies (NMTC), which plunged 31% to $4.26. The company, a designer of products for integrated circuit makers, lowered its guidance for the second quarter and full year, sparking the selloff.

>To order reprints of this article, click here: Reprints

TheStreet Premium Services

Jim Cramer
Jim Cramer's Action Alerts PLUS:
Trade right alongside a Wall Street pro — enjoy access to his Charitable Trust portfolio and be sent trade alerts BEFORE he makes a move. Learn More
OptionsProfits
OptionsProfits:
Get 50+ trade ideas a week from the industry's top options experts. Plus — exclusive commentary on market trends and essential trading tools. Learn More
Real Money
Real Money:
Our team of professional Wall Street Pros — including Jim Cramer, Doug Kass, and Nicholas Vardy — delivers intelligent analysis, timely trade ideas, and colorful commentary. Learn More
Stocks Under $10
Stocks Under $10:
Break into the market with small- and mid-cap stocks... all $10 or less! David Peltier tells you exactly which low-priced stocks he's buying and selling. Learn More
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
blog comments powered by Disqus
Dow Jones S&P 500 NASDAQ 10-Year Note
12,419.86 1,313.32 2,837.36 16.25
Oil *
103.00
DOWN
160.83
DOWN
19.10
DOWN
33.63
DOWN
1.06
10 Yr
1.62%
SPDR Gold
151.91
-1.28%
-1.43%
-1.17%
-6.12%
Data delayed 20 minutes

Top Stories and Tools

Articles From

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

We respect your privacy.
Podcasts

Connect with TheStreet