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Hot Stocks: WorldCom
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July 28, 2000: 5:30 p.m. ET
Isis Pharmaceuticals, EMCORE, Webex on the rise; LHS Group, i3Mobile slip
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NEW YORK (CNNfn) - Following a regular day seven percent slide on mixed second-quarter earnings news, telecom WorldCom was active and on the upside after the bell.
In addition, several initial public offerings that made big splashes Friday -- Avici Systems, Corvis, Illumina and more - continued their positive activity after-hours.
Friday's after-hours winners
WorldCom (WCOM: Research, Estimates) up 7/16 to 37. Long-distance provider WorldCom's second-quarter earnings rose 47 percent, but the telephone and Internet company posted disappointing revenue growth and issued a more cautious outlook for the second half of 2000.
Isis Pharmaceuticals (ISIP: Research, Estimates) up 1-3/8 to 11-7/8. After the bell Thursday, scientists from the biotech reported having identified a potential treatment for Type 2 diabetes; Isis expects to initiate clinical development of a drug targeting this in the next six months.
EMCORE Corp. (EMKR: Research, Estimates) up 6-15/16 to 71-5/8. The semiconductor announced after-the-bell Thursday that it had completed expansion of its Somerset, N.J. manufacturing facility, increasing capacity by 400 percent.
Ericsson (ERICY: Research, Estimates) up 9/32 to 18-15/32. The Swedish telecom was up in response to rival Nokia (NOK: Research, Estimates)'s activity.
Webex (WEBX: Research, Estimates) up 9/16 to 33-5/8. Webex, which provides communications services for Web sites, priced 3.5 million shares of its IPO at $14 a share, the top of its expected price range.
Genencor (GCOR: Research, Estimates) up 1/4 to 21-7/8. Biotech firm Genencor priced 7 million shares of its IPO at $18 a share.
Friday's after-hours losers
LHS Group (LHSG: Research, Estimates) down 2-7/16 to 37-15/16. The German-American software maker's shareholders gave their approval to the company's proposed merger with Anglo-French software house Seam Group PLC (SEM.L: Research, Estimates). A certificate of merger will be filed with the secretary of state for Delaware on 28 July and at 11:59 p.m. on that date, New York time, the merger will be completed.
i3Mobile Inc. (IIIM: Research, Estimates) down 1-1/8 to 10. The wireless media solutions provider announced second quarter earnings after-the-bell Thursday: Exclusive of non-cash dividends on mandatory redeemable preferred stock, net loss for the quarter was $3.4 million, or 16 cents per share, versus a net loss of $1.6 million, or 28 cents per share, in the second quarter of 1999.
ASAT Holdings Ltd. (ASTT: Research, Estimates) down 1-3/8 to 6-1/4. The Chinese semiconductor assembly and testing services provider has been volatile since pricing its IPO at $12 per American depositary receipts (Adds) on July 10th.
Omni Vision Technologies (OVTI: Research, Estimates) down 1-5/16 to 24. The semiconductor firm, which makes an image sensor for digital cameras, personal computers and other devices, has been active and volatile since pricing at $13 a share on July 14th.
Eloquent (ELOQ: Research, Estimates) down 7/32 to 4-5/32. The company, which provides media products for business-to-business communications, posted a second-quarter loss of $4.3 million, or 24 cents a share -- wider than Wall Street's expectations of a loss of 23 cents a share. USB Piper Jaffray downgraded the stock to "buy" from "strong buy."
Friday's after-hours newsmakers
Avici Systems (AVCI: Research, Estimates) up 2 to 98-3/4. Avici, which makes high-speed networking equipment, priced 7 million shares of its IPO at $31 a share, far better than its expected price range.
Corvis (CORV: Research, Estimates) up 9/32 to 85. Corvis, which produces long-distance transmissions equipment, priced 31.625 million shares of its IPO at $36 a share, far better than its expected price range.
Illumina (ILMN: Research, Estimates) down 5/32 to 39. Biotech firm Illumina priced 6 million shares of its IPO at $16 a share, better than its expected price range.
Lexent (LXNT: Research, Estimates) up 1/16 to 25-5/8. Telecommunications provider Lexent priced 6 million shares of its IPO at $15 a share, better than its expected price range.
Rambus (RMBS: Research, Estimates) down 9/16 to 70-3/8. The developer of technology to speed the performance of memory chips said Friday it signed a patent license agreement with Japan's Oki Electric Industry Co. Financial terms of the deal were not released.
Atmel (ATML: Research, Estimates) unchanged at 30-5/16. The semiconductor maker said Friday its business prospects remain strong, and that recent statements adjusting expectations in the wireless telecommunications end market had been anticipated.
Nokia (NOK: Research, Estimates) unchanged at 43-3/4 Nokia, the world's No. 1 cellular-phone maker, plans to buy back up to 36 million of its own shares at market price next week; meanwhile its stock price rebounded on bargain hunting following Thursday's swoon over a disappointing earnings report.
JDS Uniphase (JDSU: Research, Estimates) down 5/16 to 115-15/16. European electronics maker Philips Electronics NV sold 5 million of its shares in fiber-optics firm JDS Uniphase.
Alteon Websystems (ATON: Research, Estimates) up 1/2 to 129-1/2, Nortel Networks (NT: Research, Estimates) unchanged at 73. The maker of telecom equipment said Friday it will acquire Alteon, an Internet gear maker, for $7.8 billion in stock.
Conseco (CNC: Research, Estimates) unchanged at 8-1/8. The insurance company reported second-quarter losses of $28.6 million excluding one-time items, or 9 cents a share, compared with earnings of $213.3 million, or 64 cents a share, in the year-earlier period, and far below analysts' forecasts of earnings of 28 cents a share.
American Power Conversion (APCC: Research, Estimates) unchanged at 25-13/16. The provider of power protection products and services late Thursday posted earnings of 29 cents a share for the second quarter, in line with expectations and up from 22 cents a share a year earlier. Including special charges and the impact of acquisitions, the company said net income was 17 cents a share for the latest quarter.
Clarent (CLRN: Research, Estimates) up 7/16 to 45-1/2. The Internet telecom manufacturer posted second-quarter income of $228,000, or a penny a share, a narrower loss than Wall Street's expectations of 2 cents a share.
National Information Consortium (EGOV: Research, Estimates) up 5/32 to 8-3/16. Late Thursday, the provider of Internet-based electronic government services posted a second-quarter net loss of $9 million, or 16 cents a diluted share, beating estimates of a loss of 17 cents a share. The firm reported a loss of $2.5 million, or 6 cents a share, for the same period in 1999.
EDS (EDS: Research, Estimates) unchanged at 42-5/16. The computer services firm reported second-quarter earnings and revenue late Thursday that were in line with analysts' lowered expectations after the Plano, Texas-based company issued a revenue warning last month.
Cisco Systems (CSCO: Research, Estimates) up 5/16 to 63-1/8. The computer-networking company suffered from a general downturn in technology stocks.
Brightpoint (CELL: Research, Estimates) up 1/16 to 5-1/8. Donaldson Lufkin Jenrette downgraded Brightpoint to "market perform" from "buy," and Merrill Lynch downgraded the wireless-services company to "near-term neutral" from "near-term accumulate." 
-- compiled by Antoinette Coulton, Mark Gongloff and Alexandra Twin from staff and wire reports
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