The Night Watch: Computer Sciences Climbs After Beating Estimates

Microsoft inches lower in the extended session following a big day in regular trading.
Author:
Publish date:

Computer Sciences

(CSC)

was the big winner in extended trading Thursday after the company posted second-quarter earnings that topped Wall Street's estimates.

The company's shares gained 6.1% to $36 in the late session. Computer Sciences earned 40 cents a share in the second quarter, beating the consensus estimate carried on First Call by 3 cents. Revenue for the quarter rose 10.7% to $2.8 billion. The company also guided higher for the full-year bottom line.

Microsoft

(MSFT) - Get Report

, the regular session's biggest story, slipped 0.3% to $61.65. The Redmond, Wash., software maker rose 6.4% by the 4 p.m. EST close on hopes the company is close to settling the federal antitrust lawsuit with the Justice Department. The optimism surrounding Microsoft contributed to the

overall market's gains, as the

Dow Jones Industrial Average climbed 2.1% and the

Nasdaq rose 3.3%.

Cisco

(CSCO) - Get Report

was off 0.3% to $17.60 in the extra session.

BEA Systems

(BEAS)

was down 0.9% to $11.60 on Instinet and off 3.7% to $11.27 on the Island ECN. After the close, the company forecast third-quarter earnings of 5 cents to 6 cents a share, excluding items. Analysts are expecting income of 8 cents.

Intel

(INTC) - Get Report

was flat at $25.93.

Applied Materials

(AMAT) - Get Report

was inching down 0.1% to $36.95.

Cima Labs

(CIMA)

was the biggest loser on Instinet, falling 22.8% to $42.49. After the close, the company cleared analysts' third-quarter targets, but lowered its guidance for the fourth quarter.

On Island, the

Nasdaq 100 Tracking Stock

(QQQ) - Get Report

was off 0.1% to $35.31.

priceline.com

(PCLN)

was active, but unchanged at $4.70. The company posted third-quarter earnings, excluding items, of 3 cents a share, but the name-your-own price Internet outfit said revenue declined. Still, the company said demand for discounted airline tickets and hotel reservations are rebounding to the levels seen before the Sept. 11 attacks.