
The Night Watch: Eerie Calm Descends on Late Trading
The after-hours session was fairly slow Monday, with tech majors and biotech outfits claiming the majority of the spots on Instinet's list of most-active stocks.
Volume was light. Around 1.7 million shares changed hands among the top 20 movers through the first half-hour of extended trading on the Instinet platform.
Oracle
(ORCL) - Get Report
was giving back 0.1% to $15.40, and
Cisco
(CSCO) - Get Report
was down 0.1% to $20.72.
Amgen
(AMGN) - Get Report
was off 0.1% at $64.80.
Protein Design Labs
(PDLI) - Get Report
was among the most active stocks, trading down 0.3% to $30.66. In regular trading, Protein Design lost 19% after the company said an experimental cancer drug had little or no positive effect on patients suffering from non-Hodgkin's lymphoma.
JDS Uniphase
(JDSU)
was ticking up 0.1% to $9.96 after dropping 5.5% in regular activity. The company said earlier that sales for the second quarter would be 10% to 15% below the $329 million reported for the first quarter.
Emulex
(EMLX)
was flat at $38.42, while
Sun
(SUNW) - Get Report
was unchanged at $13.31.
Intel
(INTC) - Get Report
was also level with the 4 p.m. EST close at $32.95. The
Nasdaq 100 Tracking Stock
(QQQ) - Get Report
was slipping 0.1% to $40.96.
Most of the percentage winners and losers in late trading were small stocks trading on light volume, but one notable mover was
Engage
(ENGA)
.
After the close of trading, the enterprise marketing software company reported a loss of 3 cents a share, before items, for the first fiscal quarter. Revenue totaled $6.7 million. The company's shares rose 61.3% to 50 cents on Instinet, where 10,000 shares moved. Engage, which is majority-owned by
CMGI
(CMGI)
, was quoted at 59 cents on the Island ECN.