Cancer? We don't need no stinkin' cancer!
was the most traded issue on
, gaining 1 11/64 to 11 3/16 on 292,000 shares, after announcing that its gene regulators deter certain oncogenes. These gene regulators are part of the company's Oasis library and inhibit the c-raf-1 oncogene, which is involved in both lung and breast cancer.
Credit Dr. Donald Gray from the
University of Texas
with creating the patented technology that led to the isolation of the c-raf-1 oncogene. Good job, Dr. Gray!
Unfortunately, this breakthrough isn't the first time this c-raf-1 oncogene has been successfully targeted by a doctor, or even a pharmaceutical company. Really huge fans of The Night Watch might remember a company called
from a story
way back on Jan. 12.
Basically, Isis announced that it had isolated c-raf-1 using antisense oligonucleotides, blocking its reproduction. Tonight, Cytoclonal seems to have announced the same thing.
Cytoclonal Pharmaceutics, with a $104 million market cap, led trading on Island. That only means one thing -- it was a Friday night. Postclose traders decided to go out and party after a week so volatile it made
temper look like
Therefore, volume stayed thin for a second-straight night. Last night's volume was weak, as was Tuesday's following the most volatile day in market history. Come to think of it, even Wednesday was a pretty light evening once you discount for the
Although this wasn't exactly the after-hours week that traders forgot, people seem to be shying away from the more speculative postclose session until the after-effects of Tuesday's tsunami wash out completely in the day session.
That said, major names tread water on both Island and
. Some bobbed below the surface, while others were head-and-shoulders above the surf.
hit a high of 122 3/4 this week and a low of 82. That's a pretty wide swing and quite indicative of what went down in technology names this week. Today, it closed at 121 7/8, not far from its highs. Tonight, it dipped 1 15/16 to 120 1/16 on 36,000 shares on Island.
also finished near its week-long high of 77, rallying off of 64 to close today at 74 15/16. This evening, it was unchanged at 74 15/16 on 167,000 shares on Instinet, and up 15/256 to just under 75 on 26,000 shares on Island.
The aforementioned Yahoo! had a tougher time, as did the Nets as a sector, finishing somewhere in the middle of the week's trading range, closing today at 151 1/8 after rising to 173 ahead of its earnings release. Tonight, it rose 49/64 to 151 57/64 on 65,000 shares on Instinet, and 1 1/8 to 152 1/8 on 21,000 shares on Island.
The highway to
was a rocky one, with the company swinging as low as 48 this week before closing at 55 3/16, just a point-and-change away from its highs. It was last up 1/16 to 55 1/4 on 73,000 shares on Instinet, and 1/8 to 55 5/16 on 14,000 shares on Island.
was part of one of the bigger news stories this week on Monday despite being overshadowed by Tuesday's volatility and Yahoo!'s earnings release. As a result, its week was a wild one, trading up as high as 96 1/2 and as low as 84 15/16. Today, it closed at 89 1/16, something of a disappointment, considering other tech names came off the lows to close near highs. It didn't, a fairly notable exception. Tonight, it gained 1/16 to 89 1/8 on 146,000 shares on Instinet, and 1/32 to 89 1/8 on 13,000 shares on Island.
And if Mr. Gates can be considered a disappointment, then mortal enemy Mr. McNealy could be considered a success. Investors laid the smack down on
, dropping it to 71 3/4 during the height of Tuesday's madness. It quickly recovered and closed at 98 13/16, hitting a high of 99 during the day session. This evening, it eased 5/16 to 98 1/2 on 44,000 shares on Instinet, and was unchanged at 98 3/4 on 13,000 shares on Island.
File this last company under "Not Least, Last."
gained 24 points, or 18%, in a week when many traders could've used some stock in
Fruit of the Loom
. It closed right at its week-long high and continued gaining in postclose activity, gaining 2 15/16 to 156 on 41,000 shares on Instinet.
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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.