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From THESTREET.COM:
Markets : Evening Update
Vertel Rockets Higher in After-Hours Trading
By Tara Murphy
Staff Reporter
12/8/99 8:13 PM ET
Vertel (VRTL:Nasdaq) led trading on Island ECN. The stock closed the day session up 1 3/32 to 3 7/32 on almost 4 million shares, which is huge for the company. Most of that volume came over the last two hours of trading, which means the stock built off of late momentum.
How big is this momentum? The company began popping at exactly 2 p.m. EST. During the next two hours, it posted the majority of its day-session gain. As of 8:00 p.m., it was up 6 3/4 this evening to 9 7/8, a gain of 216%.
Why?
Well, in a press release from earlier today, the company trumpeted the debut of its e*ORB system, which is the first commercially available Object Request Broker. This begs the question, "What's an Object Request Broker?" Basically, it's a part of certain telecommunications systems that helps assist the flow of data, like video, voice and pictures.
Put even simpler, it's a high-tech thing that has pushed Vertel's volume past the 3 million mark in after-hours trading on Island.
-- Eric Gillin
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After-Hours Trading
10 most active stocks on Island ECN (8 p.m. EST)
Company Price Change Session Volume
Vertel (VRTL:Nasdaq) 9 7/8 +6 3/4 3,324,760
ALZA (ALZAW:Nasdaq) 3/32 +1/32 595,012
Perle Systems (PERL:Nasdaq) 11 5/8 -1 1/4 255,224
Corel (CORL:Nasdaq) 33 +4 11/16 230,398
JB Oxford (JBOH:Nasdaq) 9 1/4 +7/16 94,902
Premiere Laser Systems (PLSIZ:Nasdaq) 55 /256 -1/256 89,100
Anaren Microwave (ANEN:Nasdaq) 43 3/8 0 80,000
e-Net (ETEL:Nasdaq) 8 1/2 +2 3/8 73,192
Copytele (COPY:Nasdaq) 1 3/32 +9/32 61,720
Andover.net (ANDN:Nasdaq) 64 3/4 +1 5/16 58,848
Island ECN, owned
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