The Night Watch: Protein Design Drops on Loss Forecast

Widely held tech stocks were getting most of the attention after-hours Thursday, but investors were punishing several companies with news following the close.

Cisco ( CSCO), the volume leader, was unchanged from the 4 p.m. EST close at $14.27. Intel ( INTC) was tacking on 0.8% at $28.78, and the Nasdaq 100 Unit Trust ( QQQ) was inching up 0.2% to $33.86.

Conexant ( CNXT), Dell ( DELL), Juniper ( JNPR) and Microsoft ( MSFT) were all active, but they were flat with their regular-session closing levels.

Starbucks ( SBUX) was higher by 1.1% to $23.26 after the company said February same-store sales climbed 6%. The coffee chain also reiterated its forecast for 2002.

Protein Design Labs ( PDLI) and Shire Pharmaceuticals ( SHPGY) weren't as lucky. Protein Design was dropping 8.5% to $14.52 after the company met analysts' fourth-quarter estimates but lowered its projections for 2002.

Shire remained under selling pressure, losing another 8.1% to $21.85. In regular trading, Shire fell 27% following its announcement that competition and cost pressures could hurt growth this year.

Novell ( NOVL) was dropping 4.6% to $3.90. The company posted an unexpected profit in the fiscal first quarter, but Novell said revenue would likely decline sequentially in the second quarter.

Elsewhere, Sun Micro ( SUNW) was up 0.5%, and the S&P 500 Depositary Receipts ( SPY) were flat.

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