Stock market moves today was quite impressive but after hours techs fell on bad news from Nortel and Palm
Tech stocks drop after hours Nortel, Palm sink market By Nicole Maestri, CBS.MarketWatch.com Last Update: 5:08 PM ET Mar 27, 2001
NEW YORK (CBS.MW) - The tech rally ended quickly in after-hours action Tuesday as Nortel Networks warned that first-quarter results will fall below expectations and Palm said it expects a fourth-quarter loss and will cut 250 jobs.
After nine of the Nasdaq's top 10 volume movers rose in the regular session, tech shares lost their footing after hours, with Cisco (CSCO: news, msgs, alerts) down 3 percent, JDS Uniphase (JDSU: news, msgs, alerts) down 2.7 percent, Ciena (CIEN: news, msgs, alerts) off 3.4 percent and Juniper Networks (JNPR: news, msgs, alerts) sliding 2.4 percent.
Later Frank |