After an impressive string of earnings results this week and

friendly comments from Alan Greenspan yesterday, the market this morning looks to open mixed.

The

S&P 500 futures on

Globex

lately were down 2.7 to 1513.5, about five points above

fair value as calculated by

Prudential Securities

, and indicating some positive sentiment for the open. The thinly traded

Nasdaq 100

futures were down 27 to 4025, about 12 points below fair value as calculated by

TheStreet.com

, and showing a bit of selling pressure for the Nasdaq's opening.

Semiconductor equipment manufacturer

ASM Lithography

(ASML) - Get Report

flooded market channels early this morning with 100,000 shares changing hands on

Instinet

. In recent action, ASML was up to 45 from its 44 1/4 close. Yesterday, the Dutch maker of scanners and steppers crucial to modern circuits posted better-than-expected profits. Further improvement is expected in the second half of 2000. Both

ING Baring

and

Deutsche Banc Alex. Brown

raised their earnings estimates for ASM Lithography, and

Goldman Sachs

resumed coverage of the company with a "recommended list" rating.

Shares of telecom giant

Ericsson

(ERICY)

were also moving on

Instinet

this morning. Although the Swedish phone manufacturer's earnings beat Wall Street estimates, the company worried investors by complaining about a components shortfall. That news dragged Ericsson's shares to 19 1/2 from yesterday's 22 9/16 closing price.

After midsession trading, Ericsson's news sent all major European indices lower. Germany's Xetra Dax was lower 0.31%. France's

CAC 40

was behind 0.82%, while the U.K.'s

FTSE 100

was up 0.15% (see today's

European Midday Update for more). Japan's

Nikkei 225

rose 0.23% overnight, while Hong Kong's

Hang Seng

gained 0.27% (see today's

Asian Markets Update for more).

Thursday's After-Hours Trading

By Angela Privin
Staff Reporter

JDS Uniphase

(JDSU)

gained 16% after yesterday's close, almost 20% in today's main session on last night's news that it will replace embattled

Rite Aid

(RAD) - Get Report

on the closely watched

S&P 500 big-cap index after the bell next Wednesday.

Goldman Sachs

gave the fiber-optic company an additional lift when it initiated coverage on its recommended list. Tonight after earlier gains profit-taking set in sending the company 0.68 lower to 127.43 on almost 400,000 Instinet shares.

Sun Microsystems'

(SUNW) - Get Report

earnings were so bright, traders donned sunglasses to trade it. It was up 5.9375 to 104 on 1,185,729 Instinet shares.

The server maker not only surpassed earnings estimates but broke through the $5 billion revenue mark for the first time, up 42% year over year. Net income for the fourth quarter rose 67% to $659.5 million, or 39 cents a share, excluding gains on the sale of equity investments and acquisition-related charges for fiscal year 2000. Analysts had estimated it would make 33 cents a share.

The bullish results were not an enormous surprise to investors who bid the stock up 4% today in anticipation of a positive quarter. However, analysts may have been a bit stunned by the robust revenue, which they expected to be about a billion dollars lower. The company boasted gains in market share, catapulting the company from the No. 4 open system provider to No. 1, according to CEO Scott McNealy. The company also forecasted 30% growth in coming quarters.

E-business application provider

BroadVision's

(BVSN) - Get Report

earnings came in at 4 cents a share, 2 cents better than analysts thought it would do in the second quarter. Revenue popped 306% at $95.3 million vs. $25.5 million last year. The company's shares settled 11% higher today in front of this evening's earnings but fell 3, or 6.6%, to 42.375 after the fact. Reports on

CNBC

suggested that analysts were disappointed with the net income numbers, which barely budged sequentially.

Yesterday BroadVision announced a partnership with e-commerce developer

I-Storm

(ISTM)

to expand its sales channel. I-Storm used BroadVision technology in its eCommerce platform to develop and operate high-volume e-commerce sites for national retail brands.

To some, 40 cents might not be much, but it translates into a 646% or 0.60 gain to 70 cents on Island ECN for

Brazilian Fast Food

(BOBSW)

. It also settled 6.25 cents, or 200%, higher during the day session.

Online information provider

CNet

(CNET) - Get Report

posted better-than-expected operating earnings but fell 0.50, or 1.5%, to 31.87 on the impact of the $1.6 billion

Ziff-Davis

(ZD)

and

ZDNet

(ZDZ)

acquisition on its numbers.

The company reported per-share earnings of 3 cents, or $2.5 million in net income, down from 7 cents a year ago but above the Wall Street consensus of 1 cent. Revenue more than doubled to $52.2 million from $25.6 million a year ago.

Including goodwill amortization related to acquisitions, net gains on investment sales and related taxes, CNet posted a net loss of $20.7 million, or 24 cents a share, compared with a profit of $9.2 million, or 11 cents a share. The company said it expects full-year revenue to top $200 million.

Ventro

(VNTR) - Get Report

tumbled 2.375, or 11.6%, to 18 after reporting disappointing second-quarter results. The builder of B2B e-commerce companies posted an operating loss of $33.1 million, or 74 cents a share, missing the consensus estimate of 80 cents. Last year the net loss was $12.5 million, or $2.86 a share.

Palm

(PALM)

leapt 2.1875, or 6%, to 38.9375 on news that it will replace

3Com

(COMS)

on the S&P 500 after the close of trading July 27.

America Online

(AOL)

doubled its earnings on strong growth in advertising, electronic commerce and subscribers. The Internet company topped Wall Street estimates, posting fourth-quarter earnings of 13 cents per share, 2 cents higher than expected and more than double the 6 cents posted last year. Revenue climbed 39 percent to $1.9 billion from $1.4 billion a year ago, matching analysts' estimates.

However, the subscriber base did not grow as much as analysts anticipated, which can explain the 2.43 drop to 59.125 on 590,000 Instinet shares.

Shares of

Agilent

(A) - Get Report

fell 17.875, or 24.5%, to 55.125 after the computer-products maker said its third-quarter earnings would fall short of analysts' expectations. The company warned that third-quarter earnings per share will come in under the 35 cents previously expected by analysts due to waning demand for its products.

This information is provided by Instinet, a wholly owned subsidiary of Reuters (RTRSY) . For further information, please contact Instinet at www.instinet.com.

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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.