EXTR--CORRECTED - AFTER THE BELL-Microsoft surges, Extreme Networks falls
In Oct. 18 NEW YORK item, headlined ``CORRECTED-AFTER THE BELL-Microsoft surges, Extreme Networks falls,'' please read in third paragraph ... The stock fell after the company reported first-quarter net earnings of 8 cents per share, topping analysts' estimates of 6 cents per share ... instead of ... The stock fell after the company reported first-quarter netearnings of 4 cents per share, below analysts' estimates of 6 cents per share ... (fixes figure and shows results exceeded estimates rather than fell below them.)
A corrected repetition follows:
NEW YORK, Oct 18 (Reuters) - Shares of Microsoft Corp. (NasdaqNM:MSFT - news) rose a further 6 percent in after-hours trading on Wednesday, after the leading software company reported better-than-expected profits and issued bullish comments about its key product, Windows 2000.
The Redmond, Wa.-based company's shares last traded at $54-7/8 on the Instinet brokerage system, up from a regular session close of $51-3/4.
Extreme Networks Inc. (NasdaqNM:EXTR - news), which makes computer networking equipment, was battered after-hours, falling to $96-1/4 on Instinet, from regular close of $107-1/8. The stock fell after the company reported first-quarter earnings of 8 cents per share, topping analysts' estimates of 6 cents per share, according to research firm First Call/Thomson Financial.
Microsoft reported after the bell that its first-quarter net profit in its fiscal first quarter ended September 30 rose 18 percent to $2.58 billion, or 46 cents per share, before including an accounting change. This was up from $2.19 billion, or 40 cents per share, a year earlier. The results topped analysts' expectations of 41 cents per share, according to research firm First Call/Thomson Financial.
The shares of Microsoft had already risen $1-5/16, or 2.6 percent in the regular session.
In other after-the-bell activity, the No. 1 Internet services provider America Online Inc. (NYSE:AOL - news) shares slipped slightly lower on Instinet, to $45-1/2, from a regular close of $46.91. The modest drop came after the company posted first-quarter earnings that doubled from a year earlier as subscriber, advertising and e-commerce revenues drove growth.
The shares of Nokia Corp. (NYSE:NOK - news) were up $2, at $32 after the bell, following the surprise news the world's largest mobile phone maker would post third-quarter results on Thursday - a week ahead of plan. The Finnish company previously warned its third-quarter profits would sag relative to prior quarters.
Texas Instruments (NYSE:TXN - news) Inc., the leading maker of computer chips for mobile phones, said after the bell its third-quarter net income rose 31 percent, pushing shares up modestly to $37-13/16 on Instinet. This was up from a regular close of $36-7/8. The results met expectations, on broad demand for the company's chips for wireless and Internet communications devices.
The shares of Broadcom Corp. (NasdaqNM:BRCM - news), a high-speed communications semiconductor maker, also rose to $215 after-hours, up from a regular close of $209-3/8. The shares spiked after the company reported better-than-expected third-quarter earnings, on strong revenue growth fuelled by high-speed Internet access demand.
E-business software maker Ariba Inc. (NasdaqNM:ARBA - news) saw its shares tumble after it reported a fourth-quarter net loss of $1.1 million, or nil per share, compared with a net loss of $4.6 million, or 3 cents per share, a year earlier. Ariba last traded on Instinet at $117-3/4, down from a standard close of $127-1/16. |
