SAN FRANCISCO -- Do we really know anything more now than we did before the Fed meeting? Apparently not. Despite news that the Fed is closer to pulling the trigger on raising interest rates, the technology sector weakened only slightly this afternoon, dipping along with the rest of the market.
reported in-line quarterly results after the market closed.
Lycos reported a fiscal third-quarter loss of 2 cents a share, a penny better than its
consensus estimate. Revenue for the quarter was $35.1 million vs. $15.1 million in the year-ago period and $30.6 million in the second quarter. The company said its daily page views were up over 20% to 60 million, and it announced a 2-for-1 stock split effective in late July.
After closing up 4 7/16, or 4%, to 112 15/16, shares of Lycos have climbed to 116 1/2 in after-hours action, according to
Dell reported first-quarter
earnings of 16 cents a share, in line with its First Call consensus estimate. The stock closed up 13/16, or 2%, at 44 1/16.
reported second-quarter earnings of 36 cents a share, far exceeding the 27-cent estimate and a cent below the year-ago period. Shares of the company closed up 1/8 at 63 1/8.
was the darling of the
today following its
blowout second-quarter earnings report Monday night. The stock closed up 7, or 8%, at 95 3/4.
, which makes software that connects older computer systems with newer ones, logged earnings of 5 cents a share in the first quarter of fiscal 2000, topping its First Call consensus estimate of 2 cents a share and earnings of 3 cents a share in the year-ago period. Total revenue was up 46% to $85.6 million from $58.5 million a year ago. Operating income jumped 92% to $5.8 million from $3 million.
CEO Bill Coleman attributed much of the rise to e-commerce, which he said "has become the key driver for BEA, now representing over 40% of our business." He also said that "to date, we have seen no negative effect on our pipeline
or future orders from year-2000 concerns."
Online brokers got a lift early today from a
Wall Street Journal
article that focused on online trading overseas.
ended the day up 1 5/32, or 1%, at 111 1/32, while
finished up 1 7/8, or 2%, at 109 1/2.
traded to a high of 58 1/2 before the Fed's announcement, after which it slipped 2 7/8, or 5%, to close the session at 55.
closed down 1 3/4, or 2%, at 83 3/4 after trading to a high of 89.
Booking Losses at Amazon
remained in the limelight today after it announced plans to buy a 35% stake in
, an online grocery store. Shares of the company closed down 5, or 4%, at 132 5/8.
Amazon's announcement Monday that it would offer books from
The New York Times
bestseller list at a 50% discount prompted responses from its competitors today.
Barnes & Noble's
said they will match Amazon's latest discount plan.
went one better (or, more accurately, 5% better), when it said it will offer its customers a 55% discount on those titles. That news sent shares of Books-A-Million up 1 29/32, or 22%, to 10 5/8.