AFTER THE BELL - Apple shares tumble after warning on sales
NEW YORK, Dec 5 (Reuters) - Shares of Apple Computer Corp. <AAPL.O> tumbled more than 20 percent in extended hours trading on Tuesday, after the company warned revenues would miss targets, becoming the second major computer maker to warn holiday sales were slow.
The shares of Apple last traded on the Instinet electronic brokerage at $13-1/2, down from a regular session close of $17. Apple was the most traded stock on the Island electronic brokerage after hours, where it last traded at $14.56.
Stocks tumbled last week after personal computer maker Gateway Inc. <GTW.N> warned of lower-than-expected sales in the fourth quarter.
Shares of Dell Computer Corp. <DELL.O> pared gains after hours following Apple's warning. Dell last traded on Island at $19.50, down from a regular close of $20-1/4.
In other after-the-bell activity, Advanced Fibre Communications <AFCI.O> wiped out regular session losses after it reiterated revenue projections for the fourth quarter. Shares last traded on the Island at $24.81, after the stock lost $2-1/2 during the regular session, to close at $20.
Sun Microsystems <SUNW.O> added to a rise of more than 16 percent in the regular session. The computer hardware maker last traded on the Island at $93.38, up from a regular close of $91-3/4.
But some technology heavyweights trimmed gains in extended trading, following a record standard session when the Nasdaq Composite Index <.IXIC> soared 10.48 percent, or 274.05 points, to 2,889.80 -- its biggest-ever point and percentage gain. The blue-chip Dow Jones industrial average also rallied sharply, to close up 3.21 percent, or 338.62 points, at 10.898.72.
The shares of Intel Corp. <INTC.O> slipped to $35.50 on Island, after gaining $3-1/16 to close at $36; shares of Oracle Corp. <ORCL.O> dipped slightly after hours after rising $3-5/16 to close at $31-1/2. Oracle last traded at $31.38 on Island.
After the markets closed, Nasdaq 100 December futures rose 4, to 2,844.5; Dow industrials December futures rose 280, to 10,890.
18:17 12-05-00 |
