(Updated from 6:28 p.m. EDT)
What's a stock to do after wreaking havoc on the entire technology sector and losing 22% of its value in one day?
Well, if you are
, you put the bad times behind you and limp down the road to recovery. Friday's after-hours session brought cool green relief after Intel pulled a Moses and parted the Red Sea.
Intel's took a little stumble yesterday evening after issuing a third-quarter profit warning. Investors, already jittery over oil-driven market worries and the euro's weakness, took Intel's announcement as a cue to bail. But they didn't stay away for that long. Who can resist those tech darlings anyway? Like fickle lovers, investors run off, but always end up coming back. They came back tonight, but shyly.
The bargain-hunting was tempered and the confidence was muted. After ending the day 22% lower, Intel rose $1.12 to $49.06 on 661,000
shares pulling up the whole tech gang.
tailed their ringleader higher, climbing 62 cents to $60.93 and 43 cents to $36.37, respectively.
Volume was low as many traders stayed away after a rocky week.
Only one stock was moving with any conviction.
gained 28 cents to $3.96 tonight after losing almost 60% of its value during the day.
The e-business software maker followed in Intel's footsteps, warning that it will report a wider-than-expected loss for the third quarter, expecting to lose between 35 and 43 cents per share. Wall Street expected the company to post a loss of 18 cents.
After eight sequential quarters of revenue growth, the New York-based company blamed longer sales cycles and softness in the B2C sector for the shortfall.
InterWorld went public last year and competes with
. The company sells software that helps online merchants automate sales, inventory, shipping and customer service on the Internet.
Earlier in the session, a little stock by the name of
showed its nonconformist colors, as the one spot of red on a green canvas. It's stock has been sliding most of the week, but it couldn't resist the cheerful mood and reversed into positive territory.
Environmental Technologies, which sells refrigerants, refrigerant reclaiming services and recycled of fluorescent light ballasts and lamps, has seen its stock price drop sharply since Tuesday's close. The company said the fall is not based on fundamentals like changes in its business or fourth-quarter earnings, which it expects will be in line with estimates.
After finishing the session 21.5% lower, Environmental Tech's shares were up 6 cents to $3.25.
INRG is not the name of a new stamina-boosting diet supplement for Internet workers, it is the brand new ticker symbol for
, which made a stunning debut on Wall Street amid the early tech selloff. The maker of switching and networking products ended the session 189% higher.
Not bad for the new kid, which continued climb $1.68 to $47.93 at night.
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explains how the rules change when the sun goes down in Investing Basics: Night Owl, a section devoted to after-hours trading.