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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: bobby is sleepless in seattle who wrote (71729)11/16/1999 6:31:00 PM
From: Jenna  Read Replies (3) of 120523
 
S-P-L-I-T..NTAP+15% + another 4 1/8 after hours! Our earnings play, called out a number of times today, exhibited what I would call a picture perfect display of "Anticipatory Upswing." before a good report.. After the close it announced a stock split.

Last Update: 5:20 PM ET Nov 16, 1999 NewsWatch
Pulse

NEW YORK (CBS.MW) -- Network Appliance (NTAP: news, msgs) saw its shares soar in after hours action on news of an earnings surprise and stock split declared by the provider of network-attached data and management tools.

Meanwhile, the Nasdaq said its trade reporting and quotations system returned to normal for the extended-hours trading session following a 17-minute breakdown in the final moments of the day's regular trading session. See full story.

Network Appliance posted second-quarter earnings of 19 cents a share, 2 cents above than the First Call consensus forecast and 8 cents better than the 11 cents posted for the comparable year-earlier period.

Shares of Network Appliance surged 4 11/16 to 108 1/8 in trading over the Island ECN after closing 15 percent higher at 103 7/16 in Tuesday's trading. Network Appliance said the stock split will be distributed on or about Dec. 20 to holders of record on Dec. 10.
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