Extended activity was light tonight as investors counted down to tomorrow's
Federal Open Market Committee meeting. And coming in at the tail end of earnings season, a trickle of after-the-bell news guided some activity tonight.
Protein Design Labs
rose 1.4% to $56.28 on
ECN after beating the Street's earnings expectations for its first quarter amid strong revenue that offset higher research and development costs. Other biotech outfits were climbing in the after hours, even though trading volume wasn't significant.
gained 3.5% to $55.75 on
racked up 5.2% to $20.25, also on Instinet.
Also trading on earnings news was
, which gained 2.4% to $21 after the teeny-bopper fashion retailer met earnings expectations for its first quarter, despite reporting lower earnings from last year. First-quarter earnings were $3.5 million, or 11 cents a share, excluding a one-time charge, compared with $5.8 million, or 18 cents a share, in the year-ago period.
Even though all's quiet on the trading front, some bulls took the opportunity to buy up shares in Cisco
, which finished the day lower in regular trading on the tech-heavy
Nasdaq. Shares of the bellwether networker, the most heavily traded stock on
, climbed 0.4% to $18.65 after closing lower at $18.57 during the day. Cisco unveiled new software today that will help power new Internet devices, but analysts aren't predicting a run-up on demand, according to
Other tech blue-chips were in the green tonight, with
gaining 0.7% to $27.59 on Instinet,
up 0.4% to $16.11 and
higher by 1.25% to $54.40 on
ECN. Other notable names like
were also in positive territory.
Among the losers,
, which has entered a
full-out price war with rival
, lately 0.4% to $7.07 on Island. Singapore's
, a contract electronics manufacturer, dipped 0.4% to $24.62 on Instinet. On Island,
, the encryption software maker, traded down 4.6% to $49.00. And
Level 3 Communications
was lately down 0.1% to 13.94 on Instinet.
For a preview of how trading will fare tomorrow, the
lately traded at 1251, about a point below
fair value, indicating a slightly weak opening for the broader market. Futures for the
traded at 1809.0, about 8 points above fair value, showing a positive start out of the gate for the tech-heavy index.
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 offers trading, mainly in Nasdaq-listed stocks, from 7 a.m. to 8 p.m. EST.
explains how the rules change when the sun goes down in Investing Basics: Night Owl, a section devoted to after-hours trading.