(Updated from 7:32 p.m.EST)
After whacking 47.9% off the value of
stock in the daytime session, on news that the data storage company's third-quarter earnings and revenue might not be up to snuff if customers keep delaying orders, postclose traders have taken it down further in after-hours action. At last look, shares of Emulex were off 1.5% to $39.75 on
and lower 0.9% to $40 on
As they did during the regular session, investors have also gone after Emulex rivals.
, which tumbled 15% today, fell 2% to $61.73 on Instinet and slid 1.6% to $61.99 on Island. Data storage giant
decreased 0.8% to $53.75 on Instinet.
, which tumbled with Emulex in daytime trading, recouped some points on the after-hours marketplace. Shares of QLogic were up 1.3% to $55.50 on Island, having dropped 22.1% today.
Investors Are Hooked on Photronics
, a company that makes photographic plates used in semiconductors, beat analysts' expectations for the first quarter. The news has sent its stock soaring after hours.
Photronics posted a profit of 28 cents per share, compared with 13 cents per share in the year-ago period. Wall Street had expected the company to earn 25 cents per share. On the night watch, Photronics advanced 7.3% to $34 on Instinet.
MarchFirst Misses the Beat
After the bell, beleaguered Internet consulting firm
reported a fourth-quarter loss that was way below analysts' estimates, sending its stock down 33.8% to $1.66 on Island.
The company, which has laid off approximately 2,100 people as part of its effort to cut spending, lost 40 cents per share, compared with Wall Street's target of a 30-cent loss. Worse still, the company lowered its forward guidance. For the first quarter, MarchFirst expects to lose 22 cents to 31 cents, compared with analysts' expectations of a 6-cent loss.
PurchasePro.com Sporting Professional Gains
Business-to-business software maker
reported fourth-quarter earnings that beat Wall Street's expectations by a landslide, as revenue rose sharply from both the year-ago period and the latest third quarter.
The company posted earnings of 11 cents per share, compared to a year-ago loss of 11 cents per share. Boy did the analysts underestimate: They expected PurchasePro to lose a penny per share. On the back of its earnings release, the B2B firm is up 9.1% to $17.38 on Instinet and ahead 11.9% to $17.81 on Island.
InfoSpace Grounded Tonight
, which leaped on last week's news that the company would offer an improved financial outlook today, have stumbled after the guidance was released this evening. The stock dropped 10% to $4.50 on Island.
The company, which syndicates Web site and wireless content, said that it will lose only one third as much money as expected (it has implemented cost-cutting measures to achieve profitability). But the company did not offer encouragement about its revenue or top-line forecasts. Bottom line: Investors were not impressed.
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explains how the rules change when the sun goes down in Investing Basics: Night Owl, a section devoted to after-hours trading.