Microsoft

(MSFT) - Get Report

was down 6.1% in after-hours

Island

trading after it

warned that second-quarter earnings would be 46 to 47 cents a share, below the

First Call/Thomson Financial

estimate of 49 cents. Microsoft also forecast 2001 earnings of $1.80 to $1.82 a share vs. the Street¿s estimate of $1.91. The company blamed sluggish PC sales and the global economic slowdown.