The Night Watch: Buyers Boost Cisco in Extended Trading

The networker tops first-quarter estimates. Overall volume is heavy on Instinet.

Author:: TSC Staff
Publish date:: Nov 5, 2001 4:45 PM EST

Traders focused on

Cisco

after the regular session closed Monday, sending the networker's shares higher on a better-than-expected quarterly earnings report.

After regular trading ended, Cisco reported earnings, excluding items, of 4 cents a share for the fiscal first quarter. Analysts were looking for income of 2 cents. Revenue totaled $4.45 billion, also ahead of Wall Street's estimates. In the same period a year ago, the company earned 18 cents on revenue of $6.52 billion. The company's shares rose 3.4% to $18.51 in the extra session, on top of the 2.8% they gained by the 4 p.m. EST close.

Starbucks

(SBUX) - Get Report

was also active on Instinet, where the stock inched down 0.1% to $18.58.

Sun Micro

(SUNW) - Get Report

was gaining 0.9% to $12.17 after gaining 5.1% in regular trading. The

Nasdaq 100 Tracking Stock

(QQQ) - Get Report

was up 1% to $37.15.

Intel

(INTC) - Get Report

was tacking on 0.6% to $27.13, and

Juniper

(JNPR) - Get Report

was up 1.9% to $23.01. In regular trading, Juniper had climbed 14.7%.

KPMG Consulting

(KCIN)

was one of the biggest winners after the bell, climbing 9.5% to $15. After the bell, the company posted first-quarter earnings, before items, of 14 cents a share. Analysts were looking for income of 11 cents.

TMP Worldwide

(TMPW)

, which owns the job-hunting Web site Monster.com, was gaining 5.2% to $34.75 after topping third-quarter estimates by a penny, with a bottom line of 35 cents a share.

VerticalNet

(VERT)

was among the biggest losers, falling 6.2% to $1.21 in after-hours trading.

Volume was heavy in the extra session, with more than 3 million shares changing hands in the first 30 minutes of trading on Instinet. Cisco accounted for almost one-third of that volume.