AFTER THE BELL - Compaq, other PC makers rise
NEW YORK, Jan 23 (Reuters) - The shares of Compaq Computer Corp. (NYSE:CPQ - news) shot up over 13 percent, while other computer makers' stocks also gained in after-hours trading on Tuesday after the No. 1 PC company said its fourth-quarter operating profit rose, beating lowered expectations.
Compaq last traded at $22.75 after hours, up 13.47 percent from its close at $20.05 on the New York Stock Exchange. In regular trading, Compaq had gained 23 cents from Monday's close.
Compaq's operating profit, excluding a charge, rose 55 percent in the latest quarter. That exceeded the bottom range of analysts' lowered expectations, which were released after Compaq issued a profit warning last month.
Other computer makers saw their shares rise a little in after-hours activity, including Gateway (NYSE:GTW - news), which last traded at $23 versus a close on the NYSE at $22.15, and Apple Computer Inc. (NasdaqNM:AAPL - news), up at $20-13/16 versus its Nasdaq close at $20-1/2. Networking computer maker Sun Microsystems (NasdaqNM:SUNW - news) rose a touch to $31-3/4 from $31-9/16 on Nasdaq.
In other activity, the shares of Broadcom Corp. (NasdaqNM:BRCM - news) were flat after-hours with their close of $133-7/16, after moving to either side of that level. The high-speed communications semiconductor company reported quarterly earnings that narrowly beat expectations, on strong year-over-year revenue growth.
Millennium Pharmaceuticals Inc. (NasdaqNM:MLNM - news) fell after-hours to $51-1/2 from its Nasdaq close at $52-9/16. The biotech firm reported a smaller-than-expected loss in the fourth quarter, compared with a slight profit in the same period last year. |
