(Updated from 6:14 p.m. EST)
After-hours traders were working to turn around some of the losses that put pressure on the
Nasdaq and left it wallowing in the downside at the closing bell.
Investors were also paying close attention to news posted in the extended session, rewarding and punishing as they saw fit.
This evening, inventory software developer
posted fourth-quarter earnings of 5 cents a share, which was in line with the
Thomson Financial/First Call
estimate. Greg Owens, the company's chairman and chief executive officer, said in a statement, "We continue to see robust demand for our solutions even in the current economic environment."
The words were enough to get investors interested, sending the stock up 88 cents to $26.86 on
and up 89 cents to $26.88 on
Reports that pharmaceutical giant
Johnson & Johnson
looking to buy drug delivery company
sent Johnson & Johnson down $2.83 to $85.38 in regular trading and Alza skyrocketing $8.70, or 29%, to $38.75. In recent trading on Instinet, Alza was modestly adding to the gains, up 30 cents to $39.05.
Handheld computer maker
was moving up 67 cents to $15.11 on Instinet and up 93 cents to $15.37 ahead of its third-quarter earnings announcement due out tomorrow. Many are expecting the company to meet or exceed estimates. The stock slid 13 cents to $14.44 in the regular session.
Bombs away for chipmakers as another one hits the dirt. Actually,
is a repeat offender, lowering its first-quarter earnings
guidance for the second time in a month. The news knocked the stock down $1.88, or 9.9%, to $17 on Instinet and $2, or 10.6%, to $16.88 on Island.
There was another repeat warner in the chipmaking sector --
. The company said tonight that it was lowering forecasts for the second time this month. This time it said it's expecting earnings of 10 cents to 11 cents a share. On March 5, the chipmaker revised earnings downward to 21 cents to 22 cents a share from 26 cents to 27 cents a share.
Several stocks were reversing the losses they made earlier in the day.
lost 69 cents in the regular session, sliding to $15.44, but on Instinet, it was getting back about 56 cents, moving it up to $16.
Some other big names that took a hit in the regular session, but were making gains in recent action were
And even though many heavyweights were topping off the day with some positive attention, there were still a few that were adding onto earlier losses.
were among the losers that kept on losing. Cisco, which lately has been trading near its year lows in the past couple weeks, hit a 52-week low again today of $17.50. It finished the day slightly off that low at $17.88. In after-hours trading, the stock was off 20 cents to $17.68 on Island and off 19 cents to $17.69 on Instinet.
was a victim of some profit-taking. The genetic technology company jumped $3.81, or 14.2%, to $30.56 during the regular session, but in recent action on Instinet, was off 38 cents to $30.19.
Futures weren't showing much optimism ahead of tomorrow's opening. The
S&P 500 on
lately was down 2 to 1165, about 4 points below fair value as calculated by
futures were down almost 6 to 1693, or about 2 points below fair value as calculated by
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Island ECN offers trading, mainly in Nasdaq-listed stocks, from 7 a.m. to 8 p.m. EST.
explains how the rules change when the sun goes down in Investing Basics: Night Owl, a section devoted to after-hours trading.