The Night Watch: Manugistics Crushed on Earnings Warning

Microsoft gives back some of its gains. MacroChem higher on impotence drug progress.
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Manugistics

(MANU) - Get Report

was getting killed in the extended session on news that it will miss already lowered earnings estimates for the fiscal second quarter. Shares were off 33.4% to $7.30 after the company said it expects to post a loss of 14 cents to 16 cents a share, excluding various charges and gains.

i2 Technologies

(ITWO)

was also hurting, falling 9.4%, to $5.10.

About 20 minutes before the closing bell

Microsoft's

(MSFT) - Get Report

financial chief, John Connors, reaffirmed the company's fiscal 2002 guidance. The stock ended the regular session up 2.9%, but the extended session wasn't as kind, as Microsoft dropped 0.1%, to $57.70.

MachroChem

(MCHM)

, which lost 1.1% in regular session Nasdaq trading on Wednesday, was running in the extended session, gaining 6.3%, to $6.54. The run up followed the company's announcement that Topiglan, a topical drug used to treat erectile dysfunction, achieved statistically significant benefits in a recently completed Phase 3 clinical trial.

Hot Topic

(HOTT)

was getting a rise out of news that its same store sales rose 9.7% for the month of August. Shares were up 4.5%, to $34.50.

Medtronic

(MDT) - Get Report

, down 4.8%, to $42.90, and

Sapient

(SAPE)

, off 7.9%, to $5, were among the biggest losers on Instinet.

Intel

(INTC) - Get Report

was the top volume mover on the Instinet chart and was off 0.1%, to $27.45.

Oracle

(ORCL) - Get Report

was down 0.4%,

Cisco

(CSCO) - Get Report

was up 0.3%,

Sun Microsystems

(SUNW) - Get Report

gained 0.7%, and

JDS Uniphase

(JDSU)

slipped 0.2%.

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