We've seen Felix the Cat, Snowball I and II, Courageous Cat and even Fritz the Cat.
Now, the question is, do we have the
After Friday's market meltdown, stocks bounced back yesterday, allowing both the
to post big gains. The Nasdaq actually posted its largest single-day point gain ever, hopping up 217 points.
But, at least this morning, things aren't looking too rosy for the market's opening. In early action, the
June futures contract was down 5.2, about 6 points below fair value. The
June contract was down 32.5 to 3545. While still lower, futures have bounced off their lows from earlier this morning, suggesting that sentiment may be improving as the opening nears.
Things in foreign markets started stronger, but slumped.
has updates out of both
While things aren't looking too great, yesterday's spate of earnings were pretty impressive. Companies including
all reported stronger-than-expected quarterly results.
Today is another big day for earnings as
are all expected to report. A
complete list of today's major reporting companies is also available on
Last Night's After-Hours Trading
The tech-stacked Nasdaq is a flirt. After
Friday's swoon, it teased traders with
While everyone eyed its sagging bottom, the Comp wiggled back into positive territory and continued to bounce smartly after hours.
The brick-like panic selling that weighed on the market Friday lightened up, allowing both the
and the Nasdaq to yo-yo back. Encouraged by a strong close, lead by semiconductor momentum buying, the Comp regained half of Friday's losses. The technology-friendly buying spree bled into the night, with
gaining 2 5/8 to 28 15/16 on 110,000 shares on
Applied Micro Circuits
popping 3 5/8 to 108 1/4 on 16,000 shares on
garnered the most confidence late night, after gaining 15 7/8, or 22%, during the day. It traded 3 57/64 higher to 88 1/2 on 60,000 shares on Island and up 4 3/16 to 88 5/8 on 850,000 shares on Instinet.
, which tacked on 17% on 116 million shares in the day session, and was the
Nasdaq Stock Market's
most active on the third-heaviest day of trading in the exchange's history, continued its ascent at night. It rose 1 1/4 to 67 3/4 on 430,000 shares on Instinet.
Four companies of the major companies that released earnings after the close all beat expectations.
, manufacturer of the chips used in about two-thirds of the world's digital cellular phones, reported earnings of 55 cents a share, beating
First Call/Thomson Financial
estimates of 53 cents but missing the "whisper" estimate of 57 cents. The company closed at 149 and remained flat during after-hours trading, according to Instinet.
Protein Design Labs
beat analyst estimates of a 4-cent loss, instead reporting earnings of 4 cents a share.
posted earnings of 8 cents a share, beating analyst expectations of 2 cents. The good news lifted the company's stock 2 1/16 to 12 1/4 on 21,000 shares on Island.
announced earnings of 18 cents a share vs. the 11 cents expected. The Internet company saw profits soar from 3 cents a share a year earlier.
played nicely with others during the day, gaining 4 3/4 points to 160 15/18, night traders sent the volatile stock to the corner. It coughed up 2 1/16 points, falling to 158 15/16 on 13,000 shares on Island only to recover 4 points to 165 on 15,000 shares, an hour later.
So those good earnings and solid tech-led gains have transformed the tentative optimism of the day session into night-time euphoria. Late-night lurkers sent 19 out of the 20 most active stocks higher on Island, while boosting 17 out of 20 stocks on Instinet.
This information is provided by Instinet, a wholly owned subsidiary of Reuters (RTRSY) . For further information, please contact Instinet at www.instinet.com.
Island ECN, owned by Datek Online, offers trading, mainly in Nasdaq-listed stocks, from 8 a.m. to 8 p.m. EDT.
explains how the rules change when the sun goes down in Investing Basics: Night Owl, a section devoted to after-hours trading.