The Night Watch: Cisco Mounts Minor Comeback
Traders had plenty of news to digest after the close Thursday, and several widely held tech shares were making sharp moves in the extra session.
Amgen
(AMGN) - Get Amgen Inc. Report
was among the most active stocks, falling 2.8% to $55.99 after the company disclosed plans to raise $2.5 billion through the sale of convertible debt.
BEA Systems
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was dropping 4.2% to $15.15 after the company posted earnings before items that met analysts' expectations. Revenue and earnings for the latest fourth quarter fell from the same period a year earlier.
Cisco
(CSCO) - Get Cisco Systems Inc. Report
was climbing 1.2% to $15.29.
In regular trading, the stock lost 9.3% after the company's CEO, John Chambers, told Lehman Brothers analysts that visibility was tough and that the strength seen in the past few months has now softened.
Xilinx
(XLNX) - Get Xilinx Inc. Report
was one of the late session's biggest winners, advancing 5% to $35.71 after the company raised its revenue guidance for the fourth quarter. The outlook was good enough to lift
Altera
(ALTR) - Get Altair Engineering Inc. Report
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4.7% to $20.75. The stocks of both companies, which make programmable logic devices, were lower in regular action.
Ciena
(CIEN) - Get Ciena Corporation Report
was dropping another 0.7%,
Intel
(INTC) - Get Intel Corporation Report
was up 0.6%, and
Microsoft
(MSFT) - Get Microsoft Corporation Report
was inching up 0.2%.
Oracle
(ORCL) - Get Oracle Corporation Report
was off 0.1%.
Sun Micro
(SUNW) - Get Sunworks Inc. Report
was tacking on 0.2%.
Nextel
(NXTL)
was unchanged.
The
Nasdaq 100 Unit Trust
(QQQ) - Get Invesco QQQ Trust Report
was up 0.4% to $33.63, and the
S&P 500 Depositary Receipts
(SPY) - Get SPDR S&P 500 ETF Trust Report
were ahead by 0.2% to $108.50.
