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 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 Report

was off 0.1%, but

Dell

(DELL) - Get Report

was ticking up 0.3%.

Cisco

(CSCO) - Get Report

was gaining 0.1%, while

Oracle

(ORCL) - Get Report

was off 0.3%.

The

Nasdaq 100 Unit Trust

(QQQ) - Get Report

was slipping 0.1% at $34.65.

Microsoft

(MSFT) - Get Report

was up 0.4%, and

JDS Uniphase

(JDSU)

was flat.