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Hot Stocks: VoiceStream
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November 6, 2000: 7:44 p.m. ET
VoiceStream Wireless sinks; Cisco stays down, while Juniper heads lower
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NEW YORK (CNNfn) - VoiceStream plunged in after-hours trading Monday after the wireless telephone company reported a wider third-quarter loss.
Shares of Cisco swung up, then down, after the networking equipment maker beat earnings estimates and reported a revenue surge in the fiscal first quarter. Juniper Networks and Ciena were other companies that shadowed Cisco's downslide.
Monday's after-hours losers
VoiceStream Wireless (VSTR: Research, Estimates) down $21.25 to $96.13. The wireless telephone company, being acquired by Germany's Deutsche Telekom AG, said Monday its third-quarter loss widened as high costs to build its network offset strong subscriber growth.
Cisco (CSCO: Research, Estimates) down 75 cents to $54.38. The networking equipment giant continued its 10-year string of record revenue and earnings by reporting fiscal first quarter earnings that came in slightly ahead of analyst expectations.
Juniper Networks (JNPR: Research, Estimates) down $4.44 to $214.38; Ciena (CIEN: Research, Estimates) down $1.75 to $102.75. Other companies in the networking equipment sector fell on Cisco's news.
Monday's after-hours newsmakers
Turnstone Systems (TSTN: Research, Estimates) up 25 cents to$10.62. The telecommunications products maker, citing sector-wide weakness for local telephone companies, said late Friday its fourth-quarter revenue will be sharply below previous estimates.
VA Linux Systems (LNUX: Research, Estimates) up 6 cents to $17.44. The developer of software and products for the Linux computer operating system said its fiscal first-quarter results won't meet expectations due to slower-than-expected sales growth from new customers "in the dot.com sector."
Avocent (AVCT: Research, Estimates) unchanged at $58.75. The firm said it had agreed to buy Equinox Systems (EQNX: Research, Estimates) for $57 million cash. Both companies' products provide remote access to computers over networks.
Adobe Systems (ADBE: Research, Estimates) down 25 cents to $83. The software maker said Monday it is increasing its operating margin by 1 percentage point for its fiscal year 2001 to reflect a decrease in research and development spending.
3-Dimensional Pharmaceuticals (DDDP: Research, Estimates) unchanged at $20.62. The firm said late Friday it will proceed with an early-stage drug research program despite discovering that a company scientist submitted false data about a protein that could become a potential treatment for asthma and other ills.
Palm (PALM: Research, Estimates) up 6 cents to $62.44. The leading maker of personal digital assistants weakened ahead of Monday's listing in the Nasdaq 100. Palm is due to replace fiber-optic network operator Global Crossing.
Optical Communications Products (OCPI: Research, Estimates) up 13 cents to $20.94. Japan's top optical fiber cable maker Furukawa Electric said the initial public offering by Optical, its U.S.-based affiliate, would boost its group net profit for this business year by 4 billion yen. Optical, a telecommunications equipment maker in which Furukawa owns 63 percent, raised $115.5 million by selling 10.5 million shares at $11 per share in last Thursday's IPO.
-- compiled by Antoinette Coulton, Mark Gongloff, and Parija Bhatnagar from staff and wire reports 
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