(Updated from 6:16 p.m. EST)
The plethora of corporate warnings that weighed down daytime trading remained like a vise on the after-hours trading session as the very same names from the day hogged the list of losers. And the extended-hours market dutifully punished some companies that came out with after-the-bell earnings confessions.
, a distributor of microcomputer products, recently dropped 10.7% to $23.50 on
, despite posting fourth-quarter earnings that exceeded analysts' expectations. Shares of the Clearwater, Fl.-based company recently slid 3.09% to $25.50 on the
ECN trading platform, as investors reacted to its reduced sales outlook for the first quarter, which comes amid "the widely reported slowdown in IT spending."
took a sharp tumble after it guided down its first-quarter outlook, blaming the limp tech sector as well as the slowdown in
server sales. JNI shares lost 12.33% $8 on Island, while Sun, which reached a new 52-week low of $15.50 during the day, recently lost 0.44% to $15.78.
The weakness in high tech certainly impacts the storage networkers and makers of infrastructure products. Fellow storage networker
was lately off 1.62% to $19 on Island.
In other selling,
lost 2.74% to $53.31 on Island, off from its regular-session close, after
CIBC World Markets
cut its numbers on the CDMA (code-division multiple access) technology pioneer, according to a media report.
And still no high fives for
, whose shares remained stuck in red from last night's earnings warning. The stock, one of the most actively traded on both platforms, recently fell 0.8% to $8 after scraping a new 52-week low of $7.88 during a dreadful daytime selloff that saw it lose 48.4%.
No respite for the telecom equipment makers either. All day, they were stung by
bad confession, which came after the bell Tuesday. While Nortel wasn't active in extended-hours trading, compatriots
weren't so lucky. On Island, Juniper began trading down but had lately climbed 0.21% to $43.98. Cisco was off 0.40% to $15.69.
Even though sellers outpaced buyers, some blue-chip tech names on Instinet managed a climb into the green.
were both up, while
, a company caught deep in the telecom slowdown, recently climbed 5.8% to $26.
Investors on Instinet also sent the triple Qs, or the
, up 0.1% to $39.72.
Looking ahead to tomorrow, both the
pointed to sluggish starts for the market tomorrow. The S&P 500 futures were about 1.3 points below fair value, while the Nasdaq 100 futures were down about 3 points from fair value.
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.