Investors may be lying low ahead of next week's
FOMC meeting, but some bargain hunters and profit takers continued to mingle in today's extended-hours trading.
Memory chip maker
was the most popular stock on
ECN, gaining 2.1% to $12.05, edging higher after dropping Thursday on news of its losses in court. Software maker
, the second-most actively traded stock, also rose slightly, gaining 0.7% to $6.95. The shares were slammed in regular trading on the
Deutsche Banc Alex. Brown
analyst Jim Moore issued a cautionary note after attending an industry conference by research firm
, which is predicting that by 2004, standalone e-procurement companies
will not exist.
"We learned that within the month, Gartner will release a highly negative report on the eProcurement software industry,'' Moore said in the note, urging investors to "remain cautious" on its stock.
Meanwhile, software stalwart
rose 0.6% to $15.99 on
slipped 0.7% to $19.50.
And among one of the most heavily traded stocks on Instinet tonight, data transfer equipment maker
, which recently announced it is spinning off its software division
, climbed 0.6% to $10.61, while Roxio fell 0.7% to $14.13. As a result of the spinoff, Adaptec has been delisted from the
S&P 500 and is being replaced by
, which recently fizzled 0.4% to $44.12 on Instinet.
And healthily in the green were shares of
, which finished higher at $38.30 on the
Big Board. The company continued its ascent tonight, climbing 1.2% to $38.75 on Instinet. Schering-Plough, the subject of recent
takeover speculation, received an after-the-bell blow from the
Food and Drug Administration's
advisory panel, which suggested its drug Claritin was
safe enough for nonprescription status.
Big-cap tech stocks, particularly the recently beaten-down networkers, were also seeing green in the extended hours.
was up 0.4% to $19.12 on Instinet, while
climbed 0.7% to $54.65 on Island.
gained 1.5% to $16.64 on Instinet.
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 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.