The Night Watch: Brocade Drops After Earnings Report

Brocade ( BRCD) was the volume leader in extra-session Instinet trading Wednesday, and investors were sending the company's shares lower after its quarterly earnings report.

After the close of regular trading, Brocade said it met analysts' first-quarter earnings expectation of 5 cents a share on stronger-than-projected sales. The company also said it was comfortable with Wall Street's second-quarter expectations, but the stock was off 4.5% to $33.60 after the close.

Intuit ( INTU) was one of the late session's biggest winners, trading up 6% to $39.18, after the finance software maker said it beat analysts' quarterly estimates. The company also raised its guidance for fiscal 2002.

In other action, several widely held tech shares were slightly lower in extended trading, but Yahoo! ( YHOO) was ticking up 0.1% to $16.81.

Cisco ( CSCO) was lower by 0.2%, Dell ( DELL) was off 0.1%, and Intel ( INTC) was unchanged.

Microsoft ( MSFT) was losing 0.1%, and Oracle ( ORCL) was down 0.3%. The Nasdaq 100 Unit Trust ( QQQ) was slipping 0.1%, and Sun ( SUNW) was flat.

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