Off-Hours Trading: Will It Be Tech's Day or Will Dell Drag Down Stocks?

Qualcomm and economic indicators will also be closely watched this morning.
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All eyes will be on tech this morning to see if Qualcomm's (QCOM) - Get Report woes yesterday were merely a one-day event or part of a more noteworthy correction to the value of a stock that helped make 1999 such a wild and wooly year.

Yesterday, Qualcomm fell 25 points, or 16%, to 124. In after-hours trading, the stock bounced back a bit and was up 3/8.

TSC's

Justin Lahart wrote a

piece last night on Qualcomm, tech and what all this hubbub means for growth stocks.

Traders will also be watching

Dell Computer

(DELL) - Get Report

today.

Dell warned investors Wednesday that its earnings would be lower than Wall Street's expectations because of semiconductor supply problems and a slower-than-expected rebound in sales after concerns about year-2000 problems dissipated. The company is scheduled to report earnings on Feb. 10.

Last night, Dell shares were off 3 7/8 to 36 1/2 and the stock was about another 1/8 lower this morning on over 300,000 shares, according to

Instinet

.

The continuing saga of earnings will continue today as

Eli Lilly

(LLY) - Get Report

,

GTE

(GTE) - Get Report

,

Gillette

(G) - Get Report

and

Halliburton

(HAL) - Get Report

are all on tap to report.

Futures were not giving investors much of a read of today's market performance. Recently, the S&P 500 March contract was quoted up 0.30 to 1415.70, right about at fair value. The thinly traded Nasdaq 100 March contract was down 22 to 3632.50.

For the first time this week, market players will receive some economic indicators to chew on this morning. The

Census Bureau

releases the December durable goods report and initial jobless claims for the week ending January 22 are slated to be released by the

Labor Department

.

Last Night's After-Hours Trading

By Eric Gillin
Editorial Assistant

The farmer deep in

Dell

(DELL) - Get Report

just bought the farm.

The company was last off 3 7/8 to 36 1/2 on 560,000 shares on

Island

ECN after warning that fourth-quarter earnings will miss estimates. The company put its earnings at 16 cents a share, including a 1-cent gain. Dell said component shortages were a key factor in missing the 21-cent

First Call/Thomson Financial

estimate.

Fourth-quarter revenues are up from the year ago quarter, however, with the company expecting around $6.7 billion, 30% better than last year. For the fiscal year, Dell said its revenue will top $25 billion, beating last year by 38%.

The company was halted at 40 3/8 from 4:32 p.m. EST until it began trading again at 5:21 p.m. Upon resumption, investors continued to send Dell out to pasture.

To every thing, earn, earn, earn. There is a season, earn, earn, earn.

And because of this season, a flock of stocks flew with the Byrds.

Exodus Communications

(EXDS)

announced fourth-quarter results exceeding estimates. It rose 4 3/4 to 125 on 100,000 shares after it announced fourth-quarter losses of 25 cents a share, narrower than the First Call prediction of 27 cents. Last year, the company lost 14 cents a share.

Informix

(IFMX)

announced fourth-quarter earnings of 20 cents a share, better than the 17-cent First Call estimate and last year's 11 cents. It was last up 1 5/8 to 15 1/4 on 300,000 shares on Island.

JDS Uniphase

(JDSU)

last traded up 4 31/32 to 221 5/8 on 260,000 shares on Island after announcing second-quarter earnings of 18 cents a share. This figure tops last year's 8 cents a share and a 27-analyst estimate of 15 cents.

BroadVision

(BVSN) - Get Report

packed on the points, gaining 5 to 156 13/16 on 60,000 shares on Island. Tonight, the company announced fourth-quarter earnings of 9 cents a share, beating the 6-cent estimate and last year's 3 cents.

The company also announced the acquisition of

Interleaf

(LEAF) - Get Report

for about $877 million in stock. The deal values one share of Interleaf at 0.3465 of a BroadVision share, which is a 40% premium over Interleaf's close of 38 13/16 yesterday.

Island ECN, owned by Datek Online, offers trading, mainly in Nasdaq-listed stocks, from 8 a.m. to 8 p.m. EST.

.

MarketXT, formerly Eclipse Trading, offers after-hours trading to retail clients of Morgan Stanley Dean Witter's (MWD) Morgan Stanley Dean Witter Online, Mellon Bank's (MEL) Dreyfus Brokerage Services and clients of Salomon Smith Barney. Clients can trade 200 of the most actively traded New York Stock Exchange and Nasdaq Stock Market issues, 4:30 p.m. to 8 p.m. EST Monday through Thursday.

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.