The Night Watch: Juniper's Warning Keeps a Lid on Tech After Hours
Technology stocks were flat to lower on a quiet evening of extended trading.
Shares of
Juniper Networks
(JNPR) - Get Report
, which issued a preannouncement today, lost 2 cents to $38 on
Island
ECN, an electronic trading platform. Earlier, Juniper warned that its second-quarter revenue would come in around $200 million to $210 million, compared to its previous guidance of $300 million to $330 million. The stock plunged $8.61, or 18.5%, in the regular session.
The news jolted other networking stocks today; the
American Stock Exchange Networking Index
fell 18.7%. But some of its components were rising ever-so-slightly after the closing bell. On Island,
Cisco
(CSCO) - Get Report
advanced 8 cents to $20.57 and
JDS Uniphase
(JDSU)
increased 2 cents to $16.07. Storage switch-maker
Brocade Communications
(BRCD)
climbed 2 cents to $45.11.
After a technical glitch shut down trading on the
New York Stock Exchange completely for more than an hour this morning, volume was low today. And it didn't pick up much in extended trading, as Friday nights are typically quiet on the after-hours market.
Other tech issues advanced slightly: On Island,
Ciena
(CIEN) - Get Report
edged up 6 cents to $56.20,
Sun Microsystems
(SUNW) - Get Report
rose 7 cents to $17.08. Additionally,
NetZero
(NZRO)
-- which announced plans to merge with rival
Juno Online
(JWEB)
yesterday -- increased 3 cents to $1.20.
Island ECN offers trading, mainly in Nasdaq-listed stocks, from 7 a.m. to 8 p.m. EST.
Confused?
TheStreet.com
explains how the rules change when the sun goes down in Investing Basics: Night Owl, a section devoted to after-hours trading.