( Updated from 7:22 p.m. EDT)Traders were Caly-bound after Calypte Biomedical's ( CALY) postbell announcement that its HIV-1 antibody urine test was approved for use by the People's Republic of China, making it the only urine-based HIV test to be used there. According to the Joint United Nations Program on HIV/AIDS, half a million Chinese citizens are infected with the HIV virus. Calypte surged 3.10, or an incredible 155%, to 5.10 on 1,539,960 Island shares.
If a company gets that kind of treatment for blasting estimates, imagine what happens to companies that disappoint. Crossroads Systems ( CRDS) was crushed 2.67, or 24%, to 8.26 after reporting that third-quarter revenue was 6% lower than last year's and 57% lower than the previous quarter. Apparently the maker of computer network connectivity systems lost business to its competition. The net loss was 30 cents a share while analysts expected a 21-cent loss.
Investors cut into Razorfish ( RAZF) after the hipster Internet consulting firm announced tonight that President Michael Pehl was leaving. Pehl has been at the company for four years. As with dog years, that's a quite long in Internet time. Razorfish stank and sank 1.84, or 12%, to 12.71.
Software developer Pumatech ( PUMA) posted a smaller-than-expected fourth-quarter loss of 8 cents a share on sales of $9 million. Analysts expected loses of 11 cents a share in the quarter. Despite a 50% jump in sales, choosy investors chose to sell. Puma plummeted 2.55, or 10%, to 20.88.
DSL.net ( DSLN) finally just said no to gains. After tripling its value this week on a deal with IBM ( IBM) the Internet access provider finally bowed to the laws of gravity, relinquishing 7% during the day session and losing 15 cents, or 1.9%, to 7.93 tonight.
Read-Rite ( RDRT) hit a 52-week high of 7.41 and closed at 7.38 after popping 31% during the day session on news that Samsung, Maxtor ( MXTR), Quantum-Hard Disk Drive ( HDD) and Western Digital ( WDC) will use its latest recording-head technology. By night it gave back 3 cents to 7.34.
|10 most active stocks on Instinet (6:30 p.m. EDT)|
|Sycamore Networks (SCMR)||155||-3||358,910|
|Calypte Biomedical (CALY)||5.6093||+4.1093||336,200|
|Texas Instruments (TXN)||69.625||+0.1875||181,334|
|Next Level (NXTV)||41.6718||-0.0781||138,500|
|Crossroads Systems (CRDS)||8.375||-2.5625||104,200|
|10 most active stocks on Island ECN (8 p.m. EDT)|
|Calypte Biomedical (CALY)||5.10||+3.10||1,539,960|
|Crossroads Systems (CRDS)||8.26||-2.6775||412,322|
|Sycamore Networks (SCMR)||156.25||-1.75||348,931|
|Draxis Health ( DRAX)||3.40||-0.125||182,868|
|Aastrom Biosciences (ASTM)||4.20||-0.8125||157,310|
|Next Level Communications (NXTV)||41.6875||-0.0625||121,744|
|Amtech Systems (ASYS)||17.30||-2.1375||89,375|
|Puma Technology (PUMA)||20.88||-2.5575||86,226|