El-- yes,, I was correct on that one but there were others I wish I were ALMOST as close on. Have been watching it a bit and was surprised to see it go under 24. Shocked as it goes under 20 tonight. If I wanted any I'd be back before the bell in the AM,,, looks WAY overdone-- but at 19.80,,,,,
beta.cnbc.com
Will be looking at intc if it is cheap enough,, 35 / 36???
NEW YORK, Nov 29 (Reuters) - U.S. technology shares fell
sharply in extended trading on Wednesday after two industry
leaders, Altera Corp. <ALTR.O> and Gateway Inc. <GTW.N>, warned
of slowing sales in the fourth quarter.
The warning by personal computer maker Gateway and
semiconductor maker Altera confirmed investors' worst fears
that the slowing U.S. economy is deeply hurting the market's
former hi-tech high-fliers. As Gateway's dim outlook dragged
its competitors down, makers of specialty semiconductors were
sharply lower following the Altera warning.
The after-hours disappointment added to the regular session
woes, when the technology-laden hit Nasdaq Composite Index
<.IXIC> hit new year lows, to close down 28.05 points, or 1.03
percent, at 2,706.93.
In extended hours, volume was heavy, with more than 53
million Nasdaq shares trading. Nasdaq 100 December futures fell
45 to 2,485 after the bell.
"The one thing we can be assured of tomorrow is a down
opening," said Paul Cox, manager of the Commerce Mid-Cap Fund
at Commerce Bank.
"At some point in time, these things are going to get
washed out, but I don't know when that is. Everyone's been
calling for a bottom for the last four months," Cox said.
Shares of Gateway last traded on Instinet at $21-1/2, a
drop of more than 27 percent from a regular close of $29.50;
Altera tumbled more than 25 percent to $18-11/16, after closing
at $25-15/16.
Dell Computer Corp. <DELL.O> last traded after-hours, at
$19-3/8, its lowest level since June 1998, and down from a
standard close of $21-13/16, and Compaq Computer <CPQ.N>
slipped to $20-1/2, from a close of $22.70.
Intel Corp. <INTC.O> stock traded at $37-3/4, down from a
regular close of $42-3/4.
Shares of Xilinx Inc. <XLNX.O>, Altera's chief rival in the
market for programmable logic devices, or PLDs, used by
manufacturers, fell $5-9/16, or 13 percent, to $37-3/8 from
their regular Nasdaq close of $43.
The selling was not limited to the two PLD makers, though.
Shares of five makers of communications chips tumbled, as well,
with Vitesse Semiconductor Corp. <VTSS.O>, TranSwitch Corp.
<TXCC.O>, PMC-Sierra Inc. <PMCS.O>, Applied Micro Circuits
Corp. <AMCC.O> and Broadcom Corp. <BRCM.O> all falling hard
after hours.
((--Emma-Kate Symons, Wall Street Desk, 212 859 1730))
REUTERS
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