The Night Watch: Hewlett-Packard, Compaq Continue Losses

Losses for both are minimal, but the shares of the hardware makers were dumped in the regular session.
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Hewlett-Packard

(HWP)

and

Compaq

(CPQ)

were in the middle of the pack on the Instinet top 20 volume movers in the extended session, and shares of both computer hardware makers continued losing ground after regular trading ended.

Last night, Hewlett-Packard disclosed plans to acquire Compaq for $25 billion in stock. Shares of Compaq were off 0.6% to $11.01 in the late session after losing 10.3% during the regular session. H-P lost 0.4% to $18.80, after dropping 18.6% during trading on the

New York Stock Exchange

today.

Dell

(DELL) - Get Report

was off 0.1%.

Adelphia Communications

(ADLAC)

was one of the largest gainers of the after-hours session, rising 2.2% to $33. Standard & Poor's affirmed its rating on the company, but placed its subsidiary

Adelphia Business Solutions

(ABIZ)

on credit watch.

Netcentives

(NCNT)

, which gained 22% during the regular session, was up 35.5% to 15 cents on Island. The company was the number two volume mover on Island.

MacroChem

(MCHM)

was the leading mover on Instinet, gaining 0.6% to $6.26. The company, which was also one of the top movers in the extended session on Friday, lost 1.8% during the regular session.

Sanmina

(SANM) - Get Report

was rebounding slightly in the after hours, rising 0.1% to $16. The company, which lost 11.2% in the day's trading, issued a profit warning Tuesday morning. The company said it could break even for the fourth quarter, or post earnings of up to a penny a share, which is well short of the income of 9 cents a share analysts were expecting.

Other big tech names were also moving in the later session.

Intel

(INTC) - Get Report

was up 0.1%, while

Microsoft

(MSFT) - Get Report

was unchanged at $56.10.

Juniper Networks

(JNPR) - Get Report

lost 0.1%, and

Oracle

(ORCL) - Get Report

gained 0.1%.

Cisco

(CSCO) - Get Report

was off 0.3%, and

Worldcom

(WCOM)

fell 0.1%.

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