Indications: Pre- and post-market trading
Savvy investing boost CMGI results
Micron Electronics jumps; Peapod names new CEO
By Tomi Kilgore & Brenon Daly,
CBS MarketWatch
Last Update: 5:50 PM ET Sep 27, 1999
Movers & Shakers
Pulse
Ratings Revisions
NEW YORK (CBS.MW) -- Shares of CMGI held their gains in
after-market trading Monday as whopping investment gains by the
Internet incubator pushed fourth-quarter results ahead of analysts'
expectations.
The company (CMGI: news, msgs) said it earned
$452.7 million, or $4.74 per share, in the quarter.
Analysts surveyed by First Call expected earnings
of $4.08 per share. The stock gained 8 5/16 to 93
1/8 and traded around that level on the Island
trading network.
Additionally, after the market closed, CMGI said it
is acquiring privately held 1stUp.com. The value of
the acquisition of the advertising-based Internet
service provider wasn't revealed.
Micron Electronics said net income rose to $13.7
million, or 14 cents a share, in the fourth quarter.
That was twice as much as Wall Street analysts
were expecting. In the year-ago quarter, the
direct-sales computer maker (MUEI: news, msgs)
earned $7.2 million, or 8 cents. Micron shares
closed up 3/16 at 12 1/4 ahead of the release but
soared to 15 in after-market trading. |
