After a dramatic week of trading on Wall Street, many investors were content to throw in the towel once the closing bell had rung. Volume in extended action was relatively thin.
New Era of Networks
, which issued a profit warning after the closing bell, the week ended on a sour note.
Earlier this evening, the Internet software company said that it expects to record disappointing fourth-quarter earnings and revenue, which it blames on deferred and postponed customer orders.
In after-hours trading, shares of New Era lost 35.3% to $3.88 on
The software company now forecasts a fourth-quarter loss of 35 cents, and a loss of 15 cents a share for the full year, including a charge of about 10 cents a share for increased bad debt provisions, but excluding acquisition and stock-based compensation costs.
Wall Street had forecast fourth-quarter earnings of 11 cents a share for New Era. And analysts expected earnings of 28 cents share for the year.
Elsewhere on the night watch, price movements were small. Shares of
, the most actively traded stock on
, gained 0.9% to $36.94 on that platform but fell 0.2% to $36.56 on Island.
Other tech stocks that saw action tonight include
, which added 0.4% to $30.25 on Instinet and tacked on 0.6% to $30.31 on Island.
Finally, Internet bellwether
fell 3.9% to $27.88 on Island. Earlier today,
Internet analyst Henry Blodget cut his estimates on how much revenue new fees on the company's auction service would generate.
"We believe that the net revenue added in 2001 will be closer to $16 million to $30 million, rather than the $30 million to $80 million we initially estimated," Blodget wrote in a research note. The Internet behemoth posts fourth-quarter earnings on Wednesday.
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. EST.
explains how the rules change when the sun goes down in Investing Basics: Night Owl, a section devoted to after-hours trading.