CMGI Shares Fall In Late Session After 3Q Losses NEW YORK (Dow Jones)--CMGI Inc. (CMGI) tumbled during the
late trading session Thursday after the company reported a third-quarter
losses.
Shares of CMGI were bid lower to 97 7/8, Reuters Instinet said,
from the regular-session close of 101 1/2, which was down 3 3/4,
or 3.6%, for the day.
For the third quarter ended April 30, CMGI reported it had
a loss for continuing operations of 29 cents a share, compared
with a net of 9 cents a year ago.
The Andover, Mass., company said the latest third-quarter loss
included pretax gain of $859,000 from the issuance of stock by
GeoCities (GCTY), as well as an in-process research and development
charge of $4.5 million. Including these items, the direct marketer
had a loss of 30 cents a share for the latest quarter.
Also active after the bell, Harbinger Corp.'s (HRBC) stock
rose during the late trading session, following the company's
positive earnings outlook for the second quarter and third quarter.
Shares of Harbinger recently changed hands at 10 3/4, Instinet
said, higher than the regular-session close of 10 7/16, which
was down 3/32, or 0.9%, for the day.
Harbinger announced it expects revenues for the second quarter
to grow more than 15% over the second quarter of 1998, and its
earnings to meet or exceed Wall Street's expectations for the
second quarter.
Regarding the third quarter, Harbinger sees its third-quarter
net income "slightly" above analysts' consensus. |
