The Night Watch: Siebel Keeps Sliding in Extended Trading

Volume is heavy as earnings from tech companies roll in.
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Updated from 4:59 p.m. EDT

Earnings news from technology companies dominated the extended session, and volume remained heavy as investors stayed busy following a selloff in regular trading.

More than 10.7 million shares changed hands in the first 90 minutes of trading on Instinet, with the top 20 volume movers accounting for more than half of the shares traded.

Siebel Systems

(SEBL)

plunged after the company posted quarterly numbers. Siebel dropped 19.3% during the regular session and was off 7.9% to $16 in extended trading. The company, which was the leading volume mover on Instinet, said it earned $32.5 million, or 7 cents a share, in the third quarter. Income came in 2 cents short of the consensus estimate. In the year-ago period, Siebel earned $67.5 million, or 13 cents a share. Revenue fell to $428.5 million from $496.5 million in the same period last year. Analysts had expected revenue of $490.8 million.

Shares of

Texas Instruments

(TXN) - Get Report

were also in negative territory, down 6.4% to $28, after the company posted a loss, excluding items, of $57 million, or 3 cents a share, in the third quarter. The company also said it expects revenue to decline 10% in the fourth quarter. Analysts were expecting a loss of 4 cents in the quarter. The company earned $589 million, or 33 cents a share, in the year-ago period. Revenue dropped to $1.85 billion from $3.13 billion in the same period last year.

Apple Computer

(AAPL) - Get Report

said its income in the fourth quarter totaled $65 million, or 18 cents a share, topping the consensus estimate by 2 cents. The company earned $108 million, or 30 cents a share, in the year-earlier quarter. Sales for the quarter fell to $1.45 billion from $1.87 billion. Shares of Apple rose 0.1% to $17.01 on Instinet.

Computer security software provider

Symantec

(SYMC) - Get Report

traded higher after the company said it earned $42.3 million, or 56 cents a share, excluding certain charges in the latest quarter. Wall Street was expecting 43 cents a share. The company earned 61 cents a year ago. Revenue totaled $242.4 million, up from $226.4 million last year. The issue was the No. 2 volume mover on Instinet and was up 4% to $49.66.

Broadcom

(BRCM)

was among the top volume movers on Island and was up 1.7% to $28.55. The company said it lost $34 million, or 13 cents a share, in the third quarter. Twenty analysts polled by Thomson Financial/First Call were expecting a loss of 15 cents a share in the period. Broadcom earned $78.7 million, or 30 cents a share, in the year-ago period.

Handheld computer maker

Handspring

(HAND)

reported a loss of $32.7 million, or 28 cents a share, in its fiscal first quarter. The company lost $16.3 million, or 17 cents a share, in the year-ago period. Revenue in the period fell to $61.4 million from $70.5 million last year. Shares of Handspring sank 10.2% to $2.39 on Island.

Alpha Industries

(AHAA)

was getting hit hard, falling 9% to $18.50 in the extended session, after dropping 12.7% in Nasdaq trading during the day. After the bell, the company said it lost $2.6 million, or 6 cents a share, for the second quarter, matching the consensus estimate. The company earned $10.6 million, or 24 cents a share, in the year-ago period. However, Alpha said it expects to lose 2 cents to 4 cents a share in the third quarter, while Wall Street is looking for a loss of a penny.