The Night Watch: A Slow Start to Summer in the After Hours

After-hours trading drifts into the weekend on light volume and modest moves.
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After-hours trading was typically light for a Friday as company news remained at a minimum. In early trading after the close of the market, prices were off 0.3% overall on volume of 1.8 million shares on

Instinet

.

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Zion Bancorp

(ZION) - Get Report

was off 17 cents, or 0.3%, to $57.38 on both Instinet and

Island ECN

. Zion said on Friday its chief financial officer Dale Gibbons, was arrested on charges of drug possession. Zion, which is being added to the

Standard & Poor's 500

index, said it has suspended Gibbons. Gibbons has been CFO of the Salt Lake City, Utah-based bank since August of 1996.

Island's most actively traded company, fiber optics networker

360Networks

(TSIX)

dropped a penny per share, or 5.3%, to 18 cents per share, equaling its 52-week low.

Metromedia Fiber Network

(MFNX)

also was among the most active, gaining seven cents, or 4.9%, to $1.51.

As is typical in after-hours, some the big-name tech stocks were moving without major news.

Oracle

(ORCL) - Get Report

was up five cents, or 0.3%, to $17.53 on Instinet and up 0.4% on Island.

Cisco

(CSCO) - Get Report

also was gaining on low volume. The computer networker rose 14 cents, or 0.8%, to $17.66 on Island, and gained 0.7% on Instinet.

Microsoft

(MSFT) - Get Report

saw its shares rise 42 cents, or 0.6%, to $69.25 on Instinet.

JDS Uniphase

(JDSU)

,

Sun Microsystems

(SUNW) - Get Report

,

Intel

(INTC) - Get Report

, and

Dell

(DELL) - Get Report

all posted minor gains on very low volume.

After Friday's Close

Railroad company

RailAmerica

(RAIL) - Get Report

said it is comfortable with fiscal 2001 estimates of $1 a share in earnings. RailAmerica is slated to announce second quarter earnings on August 10.

Electronic Arts

(ERTS)

announced that Chief Financial Officer Stan McKee will retire on March 31, 2002, at the end of the fiscal year.

ICN Pharmaceuticals

(ICN)

announced the election of three new members to its board. Each new board member was formerly part of a dissident shareholder group which wanted to alter the course of the company; the

ICN Committee to Maximize Shareholder Value

says that ICN has been slow in splitting the company into three entities.

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.

Economic Data

(

Forecasts are from

Reuters

. Times are Eastern. For a longer-term economic calendar and more, see

TSC's

Economic Databank.

)

  • 10 a.m.: Existing Home Sales for May. Source: National Association of Realtors. Forecast: 5.12M. Previous: 5.20M.