The Night Watch: Golden State Bancorp Jumps, Gap Sinks
Investors had plenty of news to keep them busy after the close Tuesday, but volume was again light following another
selloff in regular trading.
Golden State Bancorp
(GSB) - Get GlobalSCAPE, Inc. Report
was the most active stock and one of the biggest percentage gainers after the close.
Citigroup
(C) - Get Citigroup Inc. Report
agreed to acquire the San Francisco thrift for $5.8 billion, and Golden State was trading up 6.4% to $38.85.
Another mover was
Gap
, but it was heading in the opposite direction. The apparel retailer was falling 6.8% to $14.92 on word CEO Mickey Drexler
will step down once the company finds a new chief.
PacifiCare Health
(PHSY)
was also under pressure, falling 2.1% to $28.11 after the company cut its guidance for the second quarter and full year.
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Sycamore Networks
(SCMR)
was faring better, tacking on 2% to $3.65. After the close Sycamore reported a narrower loss than analysts were expecting for the latest quarter.
Volume was on the light side, but it wasn't as anemic as in the extra session Monday. In the first 90 minutes of extended trading, about 2.6 million shares had changed hands among the top-20 volume movers on the Instinet platform.
Elsewhere, widely held tech stocks were being actively exchanged.
Intel
(INTC) - Get Intel Corporation Report
was up 0.2%, and the
Nasdaq 100 Unit Trust
(QQQ) - Get PowerShares QQQ Trust Ser 1 Report
was slipping 0.1%.
Cisco
(CSCO) - Get Cisco Systems, Inc. Report
was gaining 0.1%.
Microsoft
(MSFT) - Get Microsoft Corporation Report
,
Sun
(SUNW) - Get Sunworks, Inc. Report
and
WorldCom
(WCOM)
were unchanged.
Oracle
(ORCL) - Get Oracle Corporation Report
was inching up 0.6%, and
Qualcomm
(QCOM) - Get Qualcomm Inc Report
was down 0.2%. The
S&P 500 Depositary Receipts
(SPY) - Get SPDR S&P 500 ETF Trust Report
were lower by 0.1%.
