To: Hank Stamper who wrote (9622 ) 4/25/2000 5:43:00 PM From: SJS Respond to of 24042
After Hours: Post-market trading JDS Uniphase slides after strong day Also: Nortel Networks, Fairchild Semi, Compaq and more By Chris Kraeuter, CBS MarketWatch Last Update: 5:12 PM ET Apr 25, 2000 NewsWatch NEW YORK (CBS.MW) -- JDS Uniphase beat earnings estimates by 1 cent, but a strong day caused investors to pull back in after hours trading. Today on CBS MarketWatch Nasdaq extends run Microsoft shares rebound International Paper in bid for Champion Erdman: Euro slumps further Silicon Stocks: Tech issues sing More top stories... CBS MarketWatch Columns Updated: 04/25/2000 3:24:52 PM ET On Island, JDS (JDSU: news, msgs) was the most active issue and the shares gave back a bit of the regular session's 16 percent gain. JDS reported income of $85.8 million, or 11 cents a share, compared with income of $33.2 million, or 5 cents a share, same quarter one year ago. Analysts surveyed by First Call expected earnings of 10 cents a share. Revenue for the quarter was $394.6 million compared with revenue of $154.9 million for the same quarter last year. Shares closed up 12 9/16, or 16 percent, to 92 7/8 before falling to 88. Nortel Networks (NT: news, msgs) posted robust first-quarter earnings from operations amid surging sales of optical equipment used in fiber networks, though the company reported a net loss as a result of its recent acquisition of Qtera, a startup company with no revenue or profit. Earnings from operations were $347 million, or 23 cents a share, compared with earnings of $193 million, or 14 cents a share, for the same quarter last year. Analysts surveyed by First Call expected earnings of 18 cents a share. Revenue was $6.3 billion compared with $4.29 billion. Looking ahead, the company ratcheted up estimates for growth and profits for the rest of fiscal 2000, citing an explosion in demand for the latest telecommunications-networking gear. Shares closed up 9, or 9.9 percent, to 107 1/2. Shares then rallied another 7 3/8 to 114 7/8 in after-hours action.