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Technology Stocks : Compaq
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To: PCSS who wrote (92186)7/17/2001 5:09:37 PM
From: tonyt  Read Replies (1) of 97611
 
After The Bell - Intel, Veritas fall

Jul 17 2001 16:51PM

NEW YORK, July 17 (Reuters) - Technology shares tumbled in
after-hours trading on Tuesday despite better-than-expected
results from computer chip giant Intel Corp. .
Intel, the world's largest semiconductor maker, posted a 76
percent drop in quarterly profits -- a surprise for analysts
who were, on average, expecting worse results. But its shares
slipped to $29.67 on the Instinet electronic brokerage system
from Tuesday's close of $29.90.
High-tech shares were also battered by bad news from data
management software maker Veritas Software Corp. ,
which met Wall Street's second-quarter forecast, but cut its
annual growth target amid a prolonged slump in corporate
technology spending.
Veritas' shares plunged to $45.97 on Instinet from its
close of $50.42 on Tuesday.
The Nasdaq-100 After Hours Indicator was down 0.83
percent.
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