Tech stocks likely in focus after hours
Enviado: 17/9/2004 20:29AFTER HOURS
Tech stocks likely in focus after hours
By Christopher Noble, CBS MarketWatch.com
Last Update: 3:20 PM ET Sept. 17, 2004
SAN FRANCISCO (CBS.MW) -- Technology stocks were likely to be in focus in evening trading Friday, and investors were braced for the possibility of earnings preannouncements.
In late afternoon trading, the Dow Jones Industrial Average was up 42.66 points to 10,287.15 and the technology heavy Nasdaq Composite was up 5.03 points to 1,909.11. See full story.
Much of the trading was expected to be in bellwether tech names such as Cisco Systems (CSCO: news, chart, profile), Intel (INTC: news, chart, profile), Microsoft (MSFT: news, chart, profile) and Oracle (ORCL: news, chart, profile), which are often active because of their wide shareholder bases.
Qualcomm (QCOM: news, chart, profile) could be active after it increased its fourth-quarter earnings and CDMA mobile phone shipment forecasts but said a review of its accounting for royalties may reduce fourth-quarter pre-tax earnings by $298 million. It said the potential change in accounting would have no effect on operating cash flow or the underlying economics of its licensing business.
There could be interest in generic-drug maker Alpharma (ALO: news, chart, profile), which rose 9 percent in regular trading after a federal appeals court ended an order that prevented it from selling a generic version of Pfizer's (PFE: news, chart, profile) nerve pain drug Neutrontin.
California Micro Devices (CAMD: news, chart, profile) could be busy after it forecast second-quarter revenue of between $16.3 million and $16.7 million, below analyst estimates of $17 million. It forecast earnings to be in the range of 8 cents a share to 9 cents a share. Analysts expect it to report earnings of 9 cents a share.
Axcan Pharma (AXCA: news, chart, profile) could trade actively after it was downgraded by J.P. Morgan, which cited a disappointing outlook from the company that included lower revenue and higher spending.
Christopher Noble is a reporter for CBS MarketWatch in San Francisco.
Tech stocks likely in focus after hours
By Christopher Noble, CBS MarketWatch.com
Last Update: 3:20 PM ET Sept. 17, 2004
SAN FRANCISCO (CBS.MW) -- Technology stocks were likely to be in focus in evening trading Friday, and investors were braced for the possibility of earnings preannouncements.
In late afternoon trading, the Dow Jones Industrial Average was up 42.66 points to 10,287.15 and the technology heavy Nasdaq Composite was up 5.03 points to 1,909.11. See full story.
Much of the trading was expected to be in bellwether tech names such as Cisco Systems (CSCO: news, chart, profile), Intel (INTC: news, chart, profile), Microsoft (MSFT: news, chart, profile) and Oracle (ORCL: news, chart, profile), which are often active because of their wide shareholder bases.
Qualcomm (QCOM: news, chart, profile) could be active after it increased its fourth-quarter earnings and CDMA mobile phone shipment forecasts but said a review of its accounting for royalties may reduce fourth-quarter pre-tax earnings by $298 million. It said the potential change in accounting would have no effect on operating cash flow or the underlying economics of its licensing business.
There could be interest in generic-drug maker Alpharma (ALO: news, chart, profile), which rose 9 percent in regular trading after a federal appeals court ended an order that prevented it from selling a generic version of Pfizer's (PFE: news, chart, profile) nerve pain drug Neutrontin.
California Micro Devices (CAMD: news, chart, profile) could be busy after it forecast second-quarter revenue of between $16.3 million and $16.7 million, below analyst estimates of $17 million. It forecast earnings to be in the range of 8 cents a share to 9 cents a share. Analysts expect it to report earnings of 9 cents a share.
Axcan Pharma (AXCA: news, chart, profile) could trade actively after it was downgraded by J.P. Morgan, which cited a disappointing outlook from the company that included lower revenue and higher spending.
Christopher Noble is a reporter for CBS MarketWatch in San Francisco.