With little news to spur tonight's trading, bargain hunters were out prowling the extended floors, sending many tech bellwethers into positive territory. The usual suspects from the networking sectors were mostly higher, led by Cisco Systems (CSCO) - Get Report, which rattled the market with its latest earnings report and forecast two days ago.
Shares of the networking stalwart lately gained 0.3% to $18.89 on
, after closing down at $18.83 in regular trading on the
climbed 2.2% to $54.80 on Instinet, a nice reprieve from its weak finish at $53.61 on the Comp. According to
, there are rumors that Juniper hosted a conference call this afternoon and forecast 2001 earnings of $1.60 a share and $1.30 a share for next year. But these numbers -- particularly this year's -- are way out of line with current estimates that call for 96 cents a share for this year and $1.16 a share for 2002. Other Street sources did not mention this guidance,
said. Fellow networkers
were also seeing gains.
was getting a powerful pop tonight, with about 398,044 of its shares trading on Instinet. They lately gained 0.7% to $36.10 on Instinet. The company, together with British pharmaceutical giant
jointly developed 3TC, the world's best-selling HIV treatment drug. Yesterday, Montreal-based BioChem received approval from Canadian regulators to be taken over for $4 billion by U.K.-based
On the official earnings front, shares of
gained 7.6% to $36.68 on Instinet after the company beat the Street's expectations with its first-quarter earnings, which were still lower than its earnings in the same period last year. The latest March period was fueled by video sales of its productions, pay-per-view revenue from "A Bug's Life," various ancillary royalties from Pixar's films and other items, the company said.
Wild Oats Markets
, seller of natural foods, tumbled 14.2% to $7.25 after it said that first-quarter earnings fell, due in part to lower-than-expected sales in new stores and higher costs. The company also said it is currently reviewing all components of its business, which may result in changes to its current business strategy and may have a negative impact on financial projections for the rest of 2001.
Note: Prices on Island were unavailable due to technical difficulties with their Web site.
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