Cima, check elcom below. shot up $20, they are b2b. we are on the same road.
State Street Sells $5.2 Billion in Debt Securities, Takes Charge
By Tara Murphy
Staff Reporter
12/28/99 7:44 PM ET
State Street (STT:NYSE - news) said it would assume a pretax fourth-quarter charge of roughly $57 million, or 21 cents a share after taxes, as a result of selling $5.2 billion in investment securities. State Street said that the sale, which mostly included Treasury and federal agency securities that had an average maturity of less than two years, was part of repositioning its investment portfolio assets. State Street CFO Ronald O'Kelley said roughly 75% of the sale's funds were used to buy Treasury and federal government securities with higher yields, while the remaining proceeds went toward short-term securities. The 12-analyst First Call/Thomson Financial estimate sees the company posting fourth-quarter operating earnings of 73 cents a share.
State Street said it the portfolio repositioning would tack on 3 cents to its EPS each quarter in fiscal 2000.
After-Hours Trading
American Champion Entertainment (ACEI:Nasdaq - news) was easily the most active issue on Island ECN. The company is best known for Adventures with Kanga Roddy, a children's television show. It also operates a chain of karate schools. With no news on the stock, tonight's sudden interest in the company is, well, more inexplicable than usual.
At the No. 2 spot, Elcom International (ELCO:Nasdaq - news) received a huge pop on news that it was a coveted business-to-business play. Technically, that not news. It's just news to investors. The company, which produces electronic commerce systems, has always been a B2B'er, but some people are just finding that out. According to a Reuters story, Elcom has languished in the shadow of bigger B2Bs like Internet Capital Group (ICGE:Nasdaq - news) and Commerce One (CMRC:Nasdaq - news). After-hours investors have sent Elcom to new heights, where it can fly with its brethren.
Speaking of Commerce One, it seems to have recovered nicely from today's late-afternoon stumble.
10 most active stocks on Island ECN (6:30 p.m. EST)
Company Price Change Session Volume
American Champion Entertainment (ACEI:Nasdaq - news) 1 1/32 +5/16 1,684,050
Elcom International (ELCO:Nasdaq - news) 56 7/8 +20 3/8 1,300,892
Kushner-Locke (KLOC:Nasdaq - news) 7 5/16 +3 11/16 950,990
China Prosperity International Holdings (CPIH:Nasdaq - news) 13 -1 1/16 246,444
Techniclone (TCLN:Nasdaq - news) 7/16 +1/32 172,248
Commerce One (CMRC:Nasdaq - news) 272 +20 15/16 119,138
Affinity Technology (AFFI:Nasdaq - news) 21/32 0
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