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The Night Watch: Amgen, Immunex Slip After Earnings Reports

The Night Watch: Amgen, Immunex Slip After Earnings Reports

Emulex sells off following news the company plans to offer debt.
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Emulex sells off following news the company plans to offer debt.

Updated from 5:01 p.m. EST

Tech investors had plenty of earnings news to keep them busy after the bell Wednesday, and many of the quarterly results led to varying degrees of selling in the late session.

Emulex

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was the volume leader, dropping 5.4% to $41.90. The company's shares

gained 14.3% in regular trading, a day after Emulex beat Wall Street's earnings estimates. J.P. Morgan followed the quarterly report with positive comments on the stock. But following the close, the company said it plans to sell $300 million of convertible subordinated notes.

LSI Logic

(LSI) - Get Free Report

was dropping 1% to $14.16 after topping analysts' earnings expectations and saying it was on track to return to profitability in the second half of the year.

Merger partners

Amgen

(AMGN) - Get Free Report

and

Immunex

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were lower after both reported earnings that were

shy of expectations. Amgen was off 0.8% to $58.01, and Immunex was lower by 0.6% to $28.90.

As always, widely held tech shares were among the most actives.

Oracle

(ORCL) - Get Free Report

was up 0.1% to $16.76, and

Intel

(INTC) - Get Free Report

was off 0.5% at $32.29.

Sun Micro

(SUNW) - Get Free Report

was losing 0.3% to $11.24.

Cisco

(CSCO) - Get Free Report

was inching up 0.1% to $18.94, and the

Nasdaq 100 Tracking Stock

(QQQ) - Get Free Report

was unchanged at $38.43.

Microsoft

(MSFT) - Get Free Report

was lower by 0.1% to $63.70.

QLogic

(QLGC)

was down 5% to $48.45. After the close, the company posted quarterly earnings that came in a penny ahead of estimates.

SanDisk

(SNDK)

was one of the late session's biggest winners, gaining 18.9% to $16.20 after reporting better-than-expected earnings.

Activision

(ATVI) - Get Free Report

was climbing 13.1% to $28.04. After the end of regular trading, the company reported stronger earnings than analysts were expecting and raised its guidance.

F5 Networks

(FFIV) - Get Free Report

was slumping 12.7% to $16.61 after the company topped expectations but lowered its projections.