The Night Watch: Calypso Fever! Calypte Soars 155% on China Pact
(Updated from 7:22 p.m. EDT)
Traders were Caly-bound after Calypte Biomedical's (CALY) postbell announcement that its HIV-1 antibody urine test was approved for use by the People's Republic of China, making it the only urine-based HIV test to be used there. According to the Joint United Nations Program on HIV/AIDS, half a million Chinese citizens are infected with the HIV virus.
Calypte surged 3.10, or an incredible 155%, to 5.10 on 1,539,960 Island shares.
Shares fell both in anticipation of and in reaction to Sycamore's second consecutive profitable quarter. Last quarter, Sycamore beat the Street when it posted a profit of $11.7 million, or 5 cents a share, on sales of $59.2 million. Investors might have wanted more, as they pressured shares down 1.75 to 156.25 this evening. TheStreet.com/NYTimes.com joint newsroom covered Sycamore's results in a story earlier, and TheStreet.com took a look at what fund managers make of the hot stock in a separate story.
If a company gets that kind of treatment for blasting estimates, imagine what happens to companies that disappoint. Crossroads Systems (CRDS) was crushed 2.67, or 24%, to 8.26 after reporting that third-quarter revenue was 6% lower than last year's and 57% lower than the previous quarter. Apparently the maker of computer network connectivity systems lost business to its competition. The net loss was 30 cents a share while analysts expected a 21-cent loss.
Investors cut into Razorfish (RAZF) after the hipster Internet consulting firm announced tonight that President Michael Pehl was leaving. Pehl has been at the company for four years. As with dog years, that's a quite long in Internet time. Razorfish stank and sank 1.84, or 12%, to 12.71.
Software developer Pumatech (PUMA) posted a smaller-than-expected fourth-quarter loss of 8 cents a share on sales of $9 million. Analysts expected loses of 11 cents a share in the quarter. Despite a 50% jump in sales, choosy investors chose to sell. Puma plummeted 2.55, or 10%, to 20.88.
DSL.net (DSLN) finally just said no to gains. After tripling its value this week on a deal with IBM (IBM) the Internet access provider finally bowed to the laws of gravity, relinquishing 7% during the day session and losing 15 cents, or 1.9%, to 7.93 tonight.
Read-Rite (RDRT) hit a 52-week high of 7.41 and closed at 7.38 after popping 31% during the day session on news that Samsung, Maxtor (MXTR), Quantum-Hard Disk Drive (HDD) and Western Digital (WDC) will use its latest recording-head technology. By night it gave back 3 cents to 7.34.
|10 most active stocks on Instinet (6:30 p.m. EDT)|
|Sycamore Networks (SCMR)||155||-3||358,910|
|Calypte Biomedical (CALY)||5.6093||+4.1093||336,200|
|Texas Instruments (TXN)||69.625||+0.1875||181,334|
|Next Level (NXTV)||41.6718||-0.0781||138,500|
|Crossroads Systems (CRDS)||8.375||-2.5625||104,200|
|10 most active stocks on Island ECN (8 p.m. EDT)|
|Calypte Biomedical (CALY)||5.10||+3.10||1,539,960|
|Crossroads Systems (CRDS)||8.26||-2.6775||412,322|
|Sycamore Networks (SCMR)||156.25||-1.75||348,931|
|Draxis Health ( DRAX)||3.40||-0.125||182,868|
|Aastrom Biosciences (ASTM)||4.20||-0.8125||157,310|
|Next Level Communications (NXTV)||41.6875||-0.0625||121,744|
|Amtech Systems (ASYS)||17.30||-2.1375||89,375|
|Puma Technology (PUMA)||20.88||-2.5575||86,226|
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