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Stocks watch Wednesday
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February 6, 2001: 6:32 p.m. ET
Cisco triggers sell-offs; PacifiCare Health blasts through estimates
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NEW YORK (CNNfn) - Disappointing results from network equipment maker Cisco Systems set off a mild domino effect in the sector after-hours. A spate of additional earnings announcements across the board added to the traffic.
Cisco Systems (CSCO: Research, Estimates) for the first time in its history as a publicly traded company reported earnings that fell short of Wall Street's expectations. The stock lost $2.13 to $33.63.
A number of stocks for which Cisco is a customer also traded lower: JDS Uniphase (JDSU: Research, Estimates) lost $1 at $51; Broadcom Corp. (BRCM: Research, Estimates) lost $3.63 at $88.88 and Applied Micro Circuits (AMCC: Research, Estimates) was down $1.06 at $54.
Beleaguered HMO PacifiCare Health Systems Inc. (PHSY: Research, Estimates) more than doubled analysts' expectations and its own earnings guidance with its fourth-quarter results. The stock rose $4.50 to $29.25 after the bell.
 Business software company MicroStrategy Inc. (MSTR: Research, Estimates) recorded a narrower-than-expected fourth-quarter loss, but also announced revenue projection for the coming year below analyst predictions. The stock traded down $1 at $16 in after-hours trade.
Internet content distribution provider Digital Island (ISLD: Research, Estimates) said it was awarded a patent for a product that improves the speed and efficiency of delivering digital content over the Internet. The stock was active but unchanged after the bell.
Aether Systems (AETH: Research, Estimates) reported a fourth-quarter loss of 90 cents a share, versus a year-ago loss of 18 cents a share. Analysts were expecting the wireless products maker and service provider to lose $1 a share. The stock was active, up $3.38 to $47 in extended-hours trade.
Hollywood, Fla.-based Concord Camera (LENS: Research, Estimates) will replace Gentex Corp. in the S&P SmallCap 600 Index on a future date, it was announced Monday after-hours. Shares of the stock were down 38 cents to $13.39 after the bell.
Looking ahead to Monday, the Census Bureau of the Department of Commerce will release the monthly retail sales report at 8:30 a.m. EST. This report is a measure of the total receipts of retail stores. The changes in retail sales are widely followed as the most timely indicator of broad consumer-spending patterns.
Boston Scientific misses Street
Medical device maker Boston Scientific Corp., struggling from lost market share, said fourth-quarter profit fell 19 percent, below analysts' expectations, as weak foreign currencies hurt sales.
The Natick, Mass.-based company, whose miniature stents are used to prop open coronary arteries after angioplasty, earned $87 million, or 22 cents per diluted share, excluding restructuring charges. That compared with earnings of $107 million, or 26 cents, in the year-ago period. Analysts expected earnings of 23 cents.
The company said net sales shrank 11 percent to $638 million, compared with $717 million in the year-ago period. Weak foreign currencies hurt sales by $26 million. Boston Scientific (BSX: Research, Estimates) was not active after-hours.
Cnet in line with expectations
Cnet Networks Inc. reported a fourth-quarter profit that was in line with most analysts' estimates.
The company, which offers technology and commerce-related content and services, said it earned $13.9 million or 9 cents per share -- before unusual costs -- compared with a pro forma loss of $25.7 million or 21 cents per share in the year-ago quarter. Analysts were expecting earnings of 9 cents per share.
Cnet (CNET: Research, Estimates) said its revenue rose to $120 million from $92.1 million in the year-ago period.
Separately, the company said it will cut 10 percent of its work force.
The stock was down $1.56 at $14.31 after-hours.
Novatel loss narrower than expected
Novatel Wireless, Inc., which provides wireless data modems and software, reported a smaller loss per share than expected for its fourth quarter.
The company's pro forma net loss for the fourth quarter was $8 million or a 16 cent loss per share, compared with year-ago losses of $8.9 million or a 33 cent loss per share. Pro forma figures excluded non-cash charges and a one-time charge for deferred stock-based compensation. Analysts expected a loss of 18 cents per share.
Revenue was $27.7 million, a 587 percent rise from the $4.04 million it reported for the year-ago quarter. Shares of Novatel (NVTL: Research, Estimates) were not active after-hours.
-- compiled by Staff Writer Alexandra Twin 
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