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Hot Stocks: Crossroads
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November 30, 2000: 8:06 p.m. ET
Juniper gains on joint venture news; Brocade rises; techs weak
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NEW YORK (CNNfn) - Crossroad Systems gained after-hours Thursday after reporting wider-than-expected loss but increased revenue in its fiscal fourth quarter.
Juniper Networks was rewarded by investors following news of a joint venture between the infrastructure provider and Swedish telecom company Ericsson.
Brocade also gained after announcing that revenue will increase 150 percent in 2001.
Meanwhile, tech stocks continued to sour after hours.
Thursday's after-hours winners
Crossroads Systems (CRDS: Research, Estimates) up $1.19 to $6.06. The storage network equipment posted a wider-than-expected loss but a rise in fourth-quarter revenue Thursday.
Juniper Networks (JNPR: Research, Estimates) up $4.38 to $129. Swedish telecom company Ericsson (ERICY: Research, Estimates) and U.S. infrastructure provider Juniper Networks launched a joint venture to deliver mobile Internet routing products.
Brocade (BRCD: Research, Estimates) up $2.19 to $170.12. The computer storage network parts maker said revenue will rise by about 150 percent to $830 million in fiscal year 2001.
Thursday's after-hours losers
Microsoft (MSFT: Research, Estimates) up 12 cents to $57.50, JDS Uniphase (JDSU: Research, Estimates) up $2.38 to $52.44, America Online (AOL: Research, Estimates) up 99 cents to $41.60, Cisco Systems (CSCO: Research, Estimates) up $1 to $48.88, Sanmina (SANM: Research, Estimates) up 50 cents to $76.75, Efficient Networks (EFNT: Research, Estimates) up 50 cents to $18.75, Numerical Technologies (NMTC: Research, Estimates) down 12 cents to $15.50, Oak Technology (OAKT: Research, Estimates) down 12 cents to $12. Technology stocks continued to stay negative in after-hours Thursday.
Thursday's after-hours newsmakers
Gateway (GTW: Research, Estimates) unchanged at $19. The computer maker warned that its fourth-quarter profit will be about half of Wall Street estimates because of weak holiday sales.
Starbucks (SBUX: Research, Estimates) down 3 cents to $45.53. Starbucks on Thursday said same-store sales rose 11 percent during the four-week period ended Nov. 26, compared with the year-earlier period.
Talbots (TLB: Research, Estimates) unchanged at $52.81. The women's apparel retailer said its sales at stores open at least a year rose 21.9 percent in November, boosted by sales of most of its merchandise at regular price.
WellPoint Health Networks (WLP: Research, Estimates) unchanged at $107.81. Cerulean, the parent company of Georgia's largest health insurer, has agreed to be acquired by managed-care company WellPoint for $700 million cash. Trigon Healthcare (TGH: Research, Estimates) decided not to make another offer for Cerulean.
Dell Computer (DELL: Research, Estimates) up 25 cents to $19.50. The computer maker suffered along with Gateway.
Altera (ALTR: Research, Estimates) up 56 cents to $24.50, Xilinx (XLNX: Research, Estimates) up 75 cents to $39.75. Chip maker Altera said fourth-quarter revenue will be about 11 percent below expectations due to inventory pullbacks by customers, and several analysts cut their earnings forecasts for the company. Competitor Xilinx also was downgraded by several analysts, and Lehman Brothers said it expects the company to lower its forecasts next Monday.
Intel (INTC: Research, Estimates) up 56 cents to $38.62. Lehman Brothers downgraded the chip maker to "outperform" from "buy."
Cypress Semiconductor (CY: Research, Estimates) unchanged at $21.13. Merrill Lynch downgraded the chip maker to "near-term accumulate" from "near-term buy" and to "long-term accumulate" from "long-term buy."
Tut Systems (TUTS: Research, Estimates) up 12 cents to $7.25. The broadband systems access provider said it expects fourth-quarter financial results to be below market estimates.
MetLife (MET: Research, Estimates) unchanged at $29.63. The No. 1 U.S. life insurer will replace entertainment and spirits company Seagram (VO: Research, Estimates) on the widely tracked S&P 500 index.
Hollis-Eden Pharmaceuticals (HEPH: Research, Estimates) down 19 cents to $5.25. The drug company announced positive preclinical results of investigational breast-cancer drug candidate HE2100.
Next Level Communications (NXTV: Research, Estimates) up 38 cents to $11.12. The broadband telecommunications company said Tuesday that J. Michael Norris will join the company as president and chief executive officer.
Abercrombie & Fitch (ANF: Research, Estimates) unchanged at $20.88. The youth-oriented apparel retailer said November sales at its stores open at least a year fell 8 percent from a year earlier, but it remains comfortable with its fourth-quarter earnings guidance of 84 cents a share.
Gap (GPS: Research, Estimates) unchanged at $24.94. The clothing retailer reported lower comparable-store sales in November and remained cautious about its fiscal fourth-quarter outlook.
Claire's Stores (CLE: Research, Estimates) unchanged at $18.56. The accessories and jewelry retailer said sales at stores open at least a year fell 3 percent for the month of November. 
compiled by Mark Gongloff and Parija Bhatnagar from staff and wire reports
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