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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Dealer who wrote (35669)	4/11/2001 8:28:40 PM
From: Dealer	Read Replies (1) \| Respond to of 65232

After the Bell: Rumblings in Earnings Season By Ari Weinberg You can tell it's earnings season when uncommon names start trading through the roof, or down to the floor, in the after-hours markets. After a mixed day on the market, after-hours investors picked up companies that reported positive news — and tossed ones that didn't. For the most part, traders took kindly to Yahoo's earnings announcement Wednesday afternoon. The company reported pro forma income of 1 cent per share for the first quarter on $180 million in revenue. The income-per-share figure was a penny above consensus estimates. The stock closed the day at $15.86, hit $17 in early after-hours trading and settled down to $16.30. Also moving higher on positive news is Canadian wireless firm Research in Motion, the maker of the Blackberry messenger device. The company reported fourth-quarter 2001 pro forma earnings of 11 cents per share on $90.1 million in revenue. In late trading, the stock traded as high as $26.73 after closing Wednesday at $21.93. Competitors Handspring and Palm are also up significantly. Semiconductor capital-equipment company Lam Research is up 2.2 percent to $25.10. The company announced third-quarter revenue of $421 million and net income of 33 cents per share. Lam will reduce headcount by 15 percent this month. Specialized-semiconductor company Cree reported third-quarter earnings of 18 cents per share on $53 million in revenue. The company reaffirmed its fiscal year 2002 guidance and announced the promotion of its COO to CEO. After hours, Cree is up from $15.90 to about $18. Optical networking play Redback Networks has traded as high as $18.44 from its $15.84 close after beating reduced earnings and revenue estimates. The company reported first-quarter revenue of $90.9 million and a net operating loss of 13 cents. Falling this evening is storage company Network Appliance. The company warned that fourth-quarter revenue (ending April 27) would be 20 percent to 25 percent below the previous quarter's $288 million. It expects to report pro forma earning of 1 cent to 3 cents, far below analyst's 10-cent consensus estimate. Also dropping slightly is Maxim Integrated Products, a maker of integrated circuits. The company announced the completion of its Dallas Semiconductor acquisition. Maxim traded down to $40.76 from Wednesday's close of $41.31. Storage king EMC also traded down to $31.75. The company warned Wednesday morning that it would miss first-quarter estimates and lost 6.44 percent on the day to $32.21. Look for the earnings news to move the markets Thursday. Investors will also have a bunch of economic data to munch on: out at 5:30 a.m. PDT is the producer price index, a key metric on wholesale goods costs; the initial unemployment claims report for last week; and retail sales figures for March. At 7 a.m. PDT, the preliminary University of Michigan Consumer Sentiment report will be released.