(Updated from 6:50 p.m. EST)
Today's gains in the regular session were offset by losses in extended action, as profit worries crept back onto Wall Street after the closing bell.
Sawtek Chops Its Targets
plunged 15% to $14.50 on
and fell 14.4% to $14.60 on
ECN, after the wireless communications equipment maker
warned that earnings and revenue would miss consensus estimates in its fiscal second quarter, due to a slowdown in demand.
For its fiscal second quarter, Sawtek expects earnings of 22 cents per share to 24 cents per share, compared with Wall Street's target of a 29-cent-per-share result, which was reduced from an original consensus of 43 cents per share. The company projected revenue of $29 million to $31 million for its upcoming quarter, down from its earlier estimates of roughly $37.6 million.
Shoe Drops on Nike
dropped 16.4% to $41.10 on Instinet, after the athletic shoemaker
lowered its fiscal third-quarter earnings projections, citing sluggish footwear sales and problems implementing new supply and demand planning systems.
The sneaker company cut its earnings forecast to a range between 34 cents and 38 cents per share for its third quarter, down from the range of 50 cents to 55 cents per share the company had previously forecast. According to consensus estimates, analysts had expected Nike to earn 53 cents per share.
Fun and Games End for eToys
were halted after the online toy retailer said that it plans to
file for bankruptcy within 10 days, saying that it doesn't expect to be in business beyond March and that its stock is "worthless."
The e-tailer also said it would be delisted from the
Nasdaq Composite Index on grounds that it fails the exchange's net tangible assets requirement. Once a highflying e-commerce company, eToys effectively went out of business earlier this month, when it said it would shut down this spring.
Niku Surpasses Expectations but Falls Anyway
Niku lost 6.6% to $8.88 on Instinet, even after the Internet software company posted a fiscal fourth-quarter loss that beat Wall Street's expectations by a penny, citing an increase in demand. The company reported a pro forma loss, excluding charges, of 23 cents per share, compared with consensus estimates of a 24-cent per share loss.
With charges, Niku posted a loss of 53 cents per share, compared with a loss of $2.72 in the year-ago period. The software company ended the day up 4.8% to $9.50.
Futures Mixed After Today's Strong Finish
In recent action, the
S&P 500 futures on
were down 0.8 points at 1272.8, about 2 points above
fair value and suggesting a bit of strength for Tuesday's start on the broader market. The
Nasdaq 100 Securities
were ahead 20 to 2102, in line with fair value and suggesting a flat open for the Nasdaq tomorrow.
Among large-cap tech stocks on Island,
decreased 0.4% to $71.88,
gained 0.6% to $29.69, and
lowered 0.02% to $32.62.
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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explains how the rules change when the sun goes down in Investing Basics: Night Owl, a section devoted to after-hours trading.