(Updated from 6:22 p.m. EDT)
should spell its name In-"tell" after telling the market what To do recently. The
Nasdaq's most heavily traded stock has set the tone in the last several sessions as technology companies, particularly chipmakers, followed the semiconductor giant's lead.
But the technology-heavy
ECN was a mixed bag this evening, showing neither the bloodletting of last Thursday's post-close session nor the chipper green veneer of Friday's after-hours recovery. Intel again headed the list of most-traded stocks, started the session with gains, took a slight turn for the worse and then steered green again.
Intel's profit warning last Thursday was only a catalyst in a market dogged by soaring oil prices and a flailing euro. Currently, investors are wavering between bargain-hunting demand and high-anxiety dumping, using any excuse, or lack thereof, to switch directions.
While Intel's warnings of a profit shortfall may have set off an "expected overreaction" in the words of
commentator Ken Wolff, it still wields a lot of influence in a market that is searching for direction. After closing down 5% during the daysession, it edged 6 cents higher to $45.43.
performed better-than-expected in the first quarter. The handheld computer maker doubled the consensus estimates of 2 cents by reporting earnings of 4 cents per share, excluding special charges.
The initial reaction was positive but somewhat cool, and then Palm began to slide. Recently, the shares were $1.31 lower to $50.93.
Evening action proved no more exciting than the day's with many tech stocks succumbing to bargain hunting on lack of news.
ended 5% lower on the day as sellers stepped up in the late-day, big cap downturn. Tonight, though, the shares were recovering $1.00 to $58.37.
lost 7.24% during the day but was easing 7% higher as the daytime pressure was lifted. It regained $1.50 to $23.125.
dropped 7% during the day and then an additional $7.31 to $82.18 on 64,000
shares. The reason for the fall was heavily debated tonight in Yahoo! Finance's chat room. The rumor-mongers were muttering about the semiconductor company issuing some debt. While some claimed it was a fact, others countered that if it was true, the selling would be torrential. The
Philadelphia Semiconductor Index
was sharply lower today.
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.