(Updated from 7:30 p.m. EDT)
The after-hours market is all chipped up.
Shares of semiconductor manufacturer
, tonight's most actively traded stock, dropped 13 cents, or 0.4%, to $34.75 on
ECN and fell $1.02, or 2.9%, to $33.86 on
After the closing bell, the chipmaker announced earnings of 62 cents a share, in line with the
First Call/Thomson Financial
estimate and above the year-ago 18-cent profit. Additionally, Novellus said that revenue rose to $359.1 million from $154.9 million in the year-ago period.
also traded heavily tonight. The chipmaker decreased $1.19, or 3.7%, to $31.25 on Island and slid $1.20, or 3.7%, to $31.23 on Instinet.
Like Novellus, chipmaker Altera stated earnings that met analysts' expectations. The company listed a 28-cent profit, meeting the
First Call/Thomson Financial
forecast and up from the year-ago 13-cent profit. Sales rose to $395.4 million from $215.1 million last year.
Last Tuesday, both
Salomon Smith Barney
hacked their ratings on Altera, sending the stock down 27.1% that day.
On the heels of an analyst downgrade today, the
Philadelphia Stock Exchange Semiconductor Index
dropped 43.8, or 5.78%, to 714.5 today. This morning, Solly issued a negative report on the chip market and lowered
2001 earnings per share estimate by 20 cents. The world's largest semiconductor manufacturer lost $4.69, or 11.61%, to $35.69 during the regular session.
In extended trading, Intel shed 6 cents, or 0.2%, to $35.63 on Island and missed 6 cents, or 0.2%, to $35.63 on Instinet.
Outside of the chip arena, software manufacturer
surged $5.93, or 24.9%, to $29.74 on Island and $5.94, or 24.9%, to $29.75 on Instinet.
News that BroadVision will replace
S&P 500 Index, after the close of trading October 23, encouraged nighttime investors to reach into their pockets. Such a move usually boosts a company's stock price.
Electronics for Imaging
, a software manufacturer, dropped $4.25, or 24.8%, to $12.88 on Island. Tonight, the company listed earnings of 37 cents, which matched Wall Street's target. But the company warned that weak demand for its products will cut into fourth quarter earnings.
, which tumbled $1.95, or 7.2%, to $25.36 during the day, recovered 14 cents, or 0.6%, to $25.50 on Island and gained 8 cents, or 0.3%, to $25.44 on Instinet.
, which dropped $3.38, or 6.3%, to $50.38 by day, recouped 69 cents, or 1.4%, to $51.06 on Island and moved up 63 cents, or 1.2%, to $51 on Instinet.
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, owned by Datek Online, offers trading, mainly in Nasdaq-listed stocks, from 7 a.m. to 8 p.m. EDT.
explains how the rules change when the sun goes down in Investing Basics: Night Owl, a section devoted to after-hours trading.