For the first time in quite a while, actual news was driving a good portion of the trading in the extended hours Tuesday.
, the big biotech outfit, was gaining 3.1% to $59.70 after providing financial guidance following the close of regular trading. The company said it expects earnings per share to grow in the low-20% range in 2002. Analysts are expecting the company to post earnings of $1.19 a share this year and $1.40 in 2002. Earnings growth of even 20% implies a bottom line of about $1.43 for next year.
The forecast excludes the effects of a possible new application for Aranesp and pegfilgrastim, a long-acting version of Neupogen.
was the volume leader on the Instinet platform after the close, trading down 0.3% to $29.87. About 1.9 million shares changed hands among the top 20 most active stocks in the first 30 minutes of extra trading.
was inching up 0.1% to $7 after hours. In regular trading, shares of Enron lost 22.6% after the energy merchant released more details about its debt, leading some to worry about the company's proposed acquisition by
Nasdaq 100 Tracking Stock
was off 0.1% on both Instinet and the Island ECN to trade at $38.60.
was up 0.1% to $14.58.
was tacking on 0.6% to $5.08.
was losing 5.5% to $39.70 after the company posted fourth-quarter earnings of 14 cents a share, 2 cents ahead of estimates. Revenue totaled $423 million, but the company expects the top line to drop 5% in the first fiscal quarter. Analog also projected earnings of 11 cents a share for the quarter, while analysts are looking for 15 cents.
was giving back 2.6% to $19.05. On Island,
was one of the most active issues, trading down 1% to $11.08.