The Night Watch: Flextronics Slides After Profit Warning
Traders were focusing on tech stocks and energy companies in the extra session Monday, but the momentum from regular trading didn't seem to be spilling over.
Volume was moderate, with around 3.3 million shares changing hands among the top-20 Instinet volume movers in the first 45 minutes of trading.
Calpine
(CPN)
, the volume leader, was climbing 1.8% to $6.95. In regular trading, Calpine lost almost 4%, but still finished well above its worst level of the day, as investors worried about the energy company's long-term power contracts with California.
Flextronics
was one of the late session's biggest losers, dropping 3.7% to $15.40 after the contract manufacturer's chief executive said on a conference call that earnings for the fourth quarter would be lower than expected. Shares of rival
Sanmina-SCI
(SANM) - Get Sanmina Corporation Report
were dropping 2.7% to $10.41.
Sprint PCS
(PCS)
was losing 4.5% to $9, after gaining 14.2% in regular action.
AT&T
TheStreet Recommends
was slipping 0.6% to $15.40.
As usual, widely held tech issues were among the volume leaders.
Sun Micro
(SUNW) - Get Sunworks Inc. Report
was inching down 0.2% at $8.85, and
Microsoft
(MSFT) - Get Microsoft Corporation Report
was off 0.1% at $59.04.
Cisco
(CSCO) - Get Cisco Systems Inc. Report
was flat,
Dell
(DELL) - Get Dell Technologies Inc. Class C Report
was down 0.2% and
Intel
(INTC) - Get Intel Corporation Report
was up 0.4%.
