(Updated from 6:29 p.m. EDT)
When stocks get whacked during the regular session, as many did today -- the
Dow Jones Industrial Average closed behind 39.22 points, while the
Nasdaq Composite ended lower 119.9 points -- after-hours enthusiasts can provide hope for the afterlife. That is the beauty of extended hours trading.
Tonight, however, post-close patrons -- who dabbled in embattled technology stocks -- did not reverse today's misfortune.
, which took it on the chin today, traded a touch lower in recent action on
Meantime, large-cap tech issues
posted only modest gains on Island, after sliding during the day.
But, it is still (at least technically) a summer Friday. So, you can't expect too much action. Ahead of the weekend, with volume thin, investors were hesitant to play the nighttime game and for the most part exerted caution when they participated.
Tonight's session did not help
cause. Even though
initiated coverage of the stock with a long-term buy rating and a 12- to 15-month $47 price target this morning, WorldCom closed down 63 cents to $29.94. In recent trading on
, WorldCom lowered three cents, or 0.1%.
cut its rating for WorldCom to outperform from buy. In a research note, the investment firm said, "the company would come under pressure from increasing competition and rising costs in the telecom sector."
On Tuesday, WorldCom announced that it would buy
in a $3 billion stock deal.
On very low volume, shares of
, a provider of e-business solutions, surged $33.50, or 319%, to $44, making it
biggest gainer. Most likely, an impish investor paid a hugely inflated price for the stock. Synquest, whose
quiet period expired today, closed the regular session down 38 cents, or 3.5%, to $10.50.
Most active on
Although Metal Management -- a company that (believe it or not) processes metals -- did not release any news today, 215,349 shares changed hands tonight. The penny stock, which closed unchanged at 44 cents, was recently down to 41 cents.
Endocare, a manufacturer of surgical devices to treat prostate cancer, boosted 12.9% in the regular session, but gave back 0.63% of its gains in extended trading. On Instinet, however, Endocare lifted 23 cents, or 1.2%, to $19.92.
Today, Endocare announced that its cryoablation procedure has been successful in freezing a lung cancer tumor.
This information is provided by Instinet, a wholly owned subsidiary of Reuters (RTRSY) . For further information, please contact Instinet at www.instinet.com.
Island ECN, owned by Datek Online, offers trading, mainly in Nasdaq-listed stocks, from 7 a.m. to 8 p.m. EDT.
explains how the rules change when the sun goes down in Investing Basics: Night Owl, a section devoted to after-hours trading.