Updated from 6:49 p.m. ET
On the heels of an 82-point rally on the
Nasdaq Composite Index -- the technology-laden measure closed at 2840.3 today and is now up almost 15% for the year -- earnings news from
has boosted select tech stocks after the closing bell.
In other Night Watch activity,
have risen on the back of their financial results, while
has fallen, as a result of its earnings statements. Here's the roundup:
Earlier this evening, PC manufacturer Compaq announced that it beat Wall Street's reduced expectations for the fourth quarter. Last month, the boxmaker warned that fourth-quarter earnings would come in well below analysts' consensus estimates.
Compaq posted earnings of 30 cents a share, better than the Street's estimate of a 28-cent result and ahead of the year-ago 19-cent result. Analysts lowered their expectations from 36 cents per share back in December. Revenue came in at $515 million, vs. $332 million in the year-ago period.
In recent action, shares of Compaq were up 19.7% to $24 on
. Elsewhere in the sector,
, which issued an earnings warning yesterday morning, was up 4.7% to $27.63 on Instinet and ahead 4.6% to $27.58 on Island.
Lam Research Lifts
After the closing bell, semiconductor equipment manufacturer Lam Research announced that second-quarter earnings doubled over the comparable period a year ago.
Lam Research reported a 58-cent per share profit, topping the 53-cent analyst estimate. The company earned 28 cents per share in the year-ago period. Revenue for the second quarter came in at $494.3 million -- a 71% increase from the comparable period last year.
At last look, Lam -- which closed up 1.7% to $22.13 -- had popped another 10.7% to $24.50 on Instinet and 11.3% to $24.63 on Island. The
Philadelphia Stock Exchange Semiconductor Index
finished the day up 4.4%.
Elsewhere in the chip sector, communications-chip maker
said that fourth-quarter earnings came beat Street expecations, thanks to strong revenue numbers.
Broadcom reported earnings of 32 cents a share, topping analysts' expectations by a penny and up from 13 cents in the year-ago period. Revenue came in at $376 million, above the consensus estimate of $319 million.
For 2001, Broadcom says revenue should rise 100% from 2000's $1.1 billion and earnings should hit $1.50 to $1.60, compared with $1.04 in 2000. Analysts are looking for earnings of $1.44 a share on $1.93 billion in revenue, according to First Call.
Shares of Broadcom added 6.1% to $141.56 on Instinet and Island.
LSI Logic Lowers
But not every chipmaker came out with good headlines in the extended session. Communications chipster LSI Logic repoerted fourth-quarter earnings in line with Wall Street's expectations, but warned of a pending slowdown in the upcoming quarter.
LSI announced fourth-quarter earnings, before goodwill and other items, of 34 cents a share, matching analysts' estimates. The company earned 23 cents per share in the year-ago period. Revenue rose 28% to $751 million from $585 million last year.
The chipmaker expects first-quarter revenue to decline about 12% from the fourth quarter, and the company projected earnings of 21 cents a diluted share for the period, well below analysts' estimates for a 34-cent profit. In recent action, LSI dropped 3.1% to $23.25 on Instinet.
Siebel Systems Soars
Tonight, software manufacturer Siebel Systems reported that it surpassed fourth-quarter earnings and revenue expectations.
The company recorded earnings of 20 cents per share, excluding certain items, besting analysts' estimates of a 15-cent profit. A year ago, the company earned 8 cents a share. Revenue for the quarter came in at $581.6 million, compared to forecasts for revenue of $536 million.
Postclose patrons bid Siebel's stock up 9.6% to $85.98 on Instinet and higher 9% to $85.56 on Island.
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explains how the rules change when the sun goes down in Investing Basics: Night Owl, a section devoted to after-hours trading.