continued to bounce back in the late session despite saying it will downwardly revise its results for 2000 and the first nine months of 2001. The company also said its earnings for the latest fourth quarter will fall well short of expectations at between 1 cent and 4 cents a share, although it expects earnings in the first quarter of 2002 to far exceed estimates, coming in above 70 cents a share.
The restatements, which will shave between 11 and 13 cents a share off earnings in 2000 and a penny off earnings in the first nine months of 2001, will "eliminate sales of products to certain independent third-party distributors that were recognized as revenue and later returned or purchased by the company in subsequent periods." Take-Two's shares were gaining 62 cents a share, to $14.18, after closing up $3.81, to $13.56 in regular trading.
XM Satellite Radio
was the most active issue in the late session, with 406,000 shares changing hands, although there was no price movement. The shares were boosted on Friday after the company was initiated as a strong buy by SG Cowen.
was also busy, with 154,700 shares changing hands, though it too saw no price action. The company said earlier that it entered into a joint venture with
to produce chips for wireless devices.
Rounding out the top five most active were
, up 7 cents, to $34.04, and
, down 1 cent, to $19.25.
Shares of several of the companies being removed from the Nasdaq 100 were also active after the bell, including
, which fell 5 cents, to $7.05.