The Night Watch: Brocade Drops After Earnings Report

Brocade

(BRCD)

was the volume leader in extra-session Instinet trading Wednesday, and investors were sending the company's shares lower after its quarterly earnings report.

After the close of regular trading, Brocade said it met analysts' first-quarter earnings expectation of 5 cents a share on stronger-than-projected sales. The company also said it was comfortable with Wall Street's second-quarter expectations, but the stock was off 4.5% to $33.60 after the close.

Intuit

(INTU) - Get Report

was one of the late session's biggest winners, trading up 6% to $39.18, after the finance software maker said it beat analysts' quarterly estimates. The company also raised its guidance for fiscal 2002.

In other action, several widely held tech shares were slightly lower in extended trading, but

Yahoo!

(YHOO)

was ticking up 0.1% to $16.81.

Cisco

(CSCO) - Get Report

was lower by 0.2%,

Dell

(DELL) - Get Report

was off 0.1%, and

Intel

(INTC) - Get Report

was unchanged.

Microsoft

(MSFT) - Get Report

was losing 0.1%, and

Oracle

(ORCL) - Get Report

was down 0.3%. The

Nasdaq 100 Unit Trust

(QQQ) - Get Report

was slipping 0.1%, and

Sun

(SUNW) - Get Report

was flat.