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Analog Devices

(ADI) - Get Analog Devices, Inc. Report

was up 12.6% in preopen

Instinet

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trading after it posted strong fourth-quarter earnings and boosted its forecast. The chip-equipment maker after the close posted earnings per share of 54 cents vs. the Street's forecast of 50 cents and the year-ago 20 cents. The company said it expects first-quarter earnings in the 58- to 60-cent per share range, above analysts' current estimate of 54 cents.

Merrill Lynch

raised its 2001 earnings estimates.