To All:
Tech News Moves, Then Halts, Stocks In After-Hours Trading
NEW YORK (Dow Jones)--A single word usually describes after-hours activity - Intel.
As one of the most active stocks each day during market hours and in after-hours trading, Intel Corp. (INTC) created
particularly high interest as it prepared to report fourth-quarter results today.
Intel, a bellwether chip maker, finished in New York up 1/4 at 147 1/8, but a trader said the stock had fallen to 144 7/8
in after-hours trading before being halted.
Intel beat expectations, reporting net income of $2.13 a share vs. 98 cents in the year-earlier period. However, the
Santa Clara, Calif., company said it expects first-quarter revenue to be flat with the $6.44 billion it reported in the
fourth quarter, with gross margins flat-to-lower than the fourth quarter's 63%.
Intel led a flurry of interest in several technology stocks that were soon halted for news.
Bay Networks Inc. (BAY) traded even with its close in New York, up 3/8 at 23 1/8, after reporting fiscal
second-quarter net income from continuing operations of 10 cents a share vs. 29 cents in the year-ago quarter. The
results fell way below a First Call Inc. analysts' consensus estimate of 23 cents.
KLA Instruments Corp. (KLAC) shares changed hands at 39, below their finish in New York of 40 7/8, after the
company announced its intention to merge with Tencor Instruments (TNCR).
A trader said Tencor had jumped to 37 before being halted. Tencor rose 7/16 to 30 1/2 during market activity. |
