|
Hot Stocks: JNI dives
|
 |
November 10, 2000: 6:56 p.m. ET
JNI takes a hit; computer stocks make a modest comeback from earlier slump
|
NEW YORK (CNNfn) - Shares of JNI Corp. slumped in after-hours trade Friday, following an announcement by the components maker for data storage networks confirming that its CEO is retiring and that the company was not of aware of any plans by Sun Microsystems to eliminate JNI's technology.
Computer maker Gateway led the way to a modest comeback in after-hours trading, carrying along Dell and other computer stocks that nose-dived in afternoon trading on the heels of a sales warning from Dell.
Friday's after-hours loser
JNI Corp. (JNIC: Research, Estimates) down $4.62 to $65.50. The maker of components for data storage networks, confirmed Friday its chief executive's plan to retire, but said it was unaware of specific plans by Sun Microsystems (SUNW: Research, Estimates), its biggest customer, to phase out JNI's technology.
Friday's after-hours newsmakers
Cisco (CSCO: Research, Estimates) up 19 cents to $50.25. Cisco Systems Inc. announced Friday that it will acquire Active Voice Corp., a provider of Internet messaging systems, in a $266 million stock swap.
Dell Computer (DELL: Research, Estimates) up 25 cents to $23.25. The personal computer maker reported a third-quarter profit late Thursday that met Wall Street's expectations, but warned that sales growth will slow next year.
Gateway (GTW: Research, Estimates) up $1.26 to $41, Compaq (CPQ: Research, Estimates) down 10 cents to $25.60, Hewlett-Packard (HWP: Research, Estimates) up 6 cents to $39.19, Sun Microsystems (SUNW: Research, Estimates) down 19 cents to $89, Worldcom (WCOM: Research, Estimates) unchanged at $15.50, IBM (IBM: Research, Estimates) up $1 to $94.
Intel (INTC: Research, Estimates) up 25 cents to $37.25. Morgan Stanley Dean Witter downgraded the chip maker to "neutral" from "outperform," citing weak PC demand, and trimmed his 2000 earnings estimate to $1.68 from $1.70 and his 2001 estimate to $1.65 from $1.75.
Pinnacle Holdings (BIGT: Research, Estimates) up 22 cents to $7.34. The company on Thursday reported its net loss for the quarter was $39 million (including nonrecurring charges totaling $10.3 million), or 80 cents a share, compared with $15.5 million, or 40 cents a share for the same period in 1999. Analysts polled by earnings tracker First Call/Thompson had forecast a loss of 47 cents a share. For the three months ended Sept. 30, 2000, the company reported revenue increased to $45.3 million from $23.1 million during the same period in 1999.
Hain Celestial Group (HAIN: Research, Estimates) down 12 cents to $26.88. The specialty foods and snack company reported a fiscal first-quarter profit that missed Wall Street expectations, and projected lower-than-expected year-end earnings.
Mobility Electronics (MOBE: Research, Estimates) up 6 cents to $3.31. The company, which makes remote technology for computers, said late Thursday it expected its fourth-quarter financial results to fall short of analysts' expectations, citing a production delay.
Watson Pharmaceuticals (WPI: Research, Estimates) unchanged at $52. The drug company is expected to report earnings Monday.
Wal-Mart (WMT: Research, Estimates) unchanged at $43.69, Home Depot (HD: Research, Estimates) up 28 cents to $36.53. Retail stocks suffered from reports of falling third-quarter earnings at companies across the sector.
Weblink (WLNK: Research, Estimates) up 9 cents to $5.25. The messaging services provider said it does not expect to be in compliance with some of its bank credit covenants after the end of the fourth quarter of this year.
Holt's Cigar Holdings (HOLT: Research, Estimates) unchanged at $5.31. The cigar retailer said two of its major shareholders will buy all the stock they don't already own, at $5.50 a share, to take the company private.
Network Engines (NENG: Research, Estimates) down 12 cents to $15.56. The company, which makes Internet server appliances, said Thursday it was buying IP Performance for 450,449 shares and reported a fiscal fourth-quarter loss that met Wall Street estimates.
PacifiCare Health Systems (PHSY: Research, Estimates) up 9 cents to $14.09. The troubled managed-health-care firm posted a drop of more than 90 percent in third-quarter net earnings Thursday, but defied Wall Street's expectations for a quarterly loss, as soaring medical costs dragged down results.
Computer Access Technology (CATZ: Research, Estimates) down 31 cents to $15.12. The company, which provides verification systems, priced 3.5 million shares of its initial public offering Thursday at $12 a share, the bottom of the estimated price range. 
-- compiled by Antoinette Coulton, Mark Gongloff, and Parija Bhatnagar from staff and wire reports
|
|
|
|
|
 |
|
