The Night Watch: TMP Drops After Cutting Forecast
Widely held tech stocks were mixed in a moderately active Instinet extended session Tuesday, but investors were selling
TMP Worldwide
(TMPW)
after the company
lowered its guidance for the first quarter and 2002.
TMP was one of the biggest losers of the late session, dropping 5.4% to $30.20. The company met analysts' estimates for the fourth quarter but said that earnings for the first quarter and the upcoming year would be below the consensus expectation.
In the first hour of late trading, about 3 million shares changed hands among the top-20 volume movers on the Instinet platform.
Target
(TGT) - Get Target Corporation Report
was the most active issue, trading up 1.6% to $44.31.
Nextel
(NXTL)
, which lost 27% in regular action, lost an additional 2.3% to $3.48 after the close.
Big tech shares were mixed.
Intel
(INTC) - Get Intel Corporation Report
TheStreet Recommends
was off 0.1%, but
Dell
(DELL) - Get Dell Technologies Inc. Class C Report
was ticking up 0.3%.
Cisco
(CSCO) - Get Cisco Systems Inc. Report
was gaining 0.1%, while
Oracle
(ORCL) - Get Oracle Corporation Report
was off 0.3%.
The
Nasdaq 100 Unit Trust
(QQQ) - Get Invesco QQQ Trust Report
was slipping 0.1% at $34.65.
Microsoft
(MSFT) - Get Microsoft Corporation Report
was up 0.4%, and
JDS Uniphase
(JDSU)
was flat.
