The Night Watch: Genesis Microchip Takes Off After Raising Guidance
Updated from 5:19 p.m. EDT
Genesis Microchip
(GNSS) - Get Genasys Inc. Report
was the big shot in the extended session Tuesday after the company raised its second-quarter revenue estimate because of strong product shipments.
The company ranked No. 1 on the Island most-active chart and fifth on the Instinet list. Genesis said it expects revenue for the fiscal second quarter to increase more than 40% sequentially and exceed $30 million. The company had previously forecast a sequential revenue increase of 16% to 20%. Shares of Genesis were up 28.6% to $25.34 on Instinet, and the stock rose 25% on Island.
Technology stocks were hit in the regular session and were mixed in after-hours trading. The typical tech names were dominating the most-active lists in extended trading, as five out of the top six volume movers on Instinet in the first 30 minutes of action were all part of the regular cast.
Cisco
(CSCO) - Get Cisco Systems Inc. Report
, the top mover, was up 0.4% to $13.62, while
Microsoft
(MSFT) - Get Microsoft Corporation Report
, number four on the list, inched up 0.3% to $54.50.
Juniper Networks
(JNPR) - Get Juniper Networks Inc. Report
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was the second most-active stock and was off 1.1%, after losing 13.7% in the regular session. Next was Intel, which gained 0.1% to $23.50.
Dell
(DELL) - Get Dell Technologies Inc. Class C Report
and
Sun Microsystems
(SUNW) - Get Sunworks Inc. Report
both posted small percentage gains, while
Oracle
(ORCL) - Get Oracle Corporation Report
was slightly on the downside.
Volume remained pretty low, as 3.3 million shares changed hands in the first 50 minutes of trading. The Instinet top 20 movers accounted for 1.47 million shares.
Island ECN offers trading, mainly in Nasdaq-listed stocks,from 7 a.m. to 8 p.m. EST.
Confused?
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explains how the rules change whenthe sun goes down in Investing Basics: NightOwl, a section devoted to after-hours trading.
