die Rechnung :-))
Thursday October 11 6:07 PM ET
After the Bell: Tech Stocks Gain
NEW YORK (Reuters) - Technology stocks were higher in after-hours
trading on Thursday, building on gains during the regular session, after
earnings news from networking equipment maker Juniper Networks Inc.
(Nasdaq:JNPR - news) buoyed sentiment.
Juniper soared to $20.68 from its close of $16.64 and was the
most-active Nasdaq stock after the networking equipment maker
reported results that beat Wall Street expectations even amid a
slowdown in capital spending.
Cisco Systems Inc. (Nasdaq:CSCO - news), Juniper's main rival in the networking equipment market,
rose to $17.24 from its close of $16.46.
Sonus Networks (Nasdaq:SONS - news), which also makes network equipment, rose to $4.15 from
a close of $3.46 after reporting a loss that was less than analysts had forecast.
All of the 10-most active stocks traded after-hours on Nasdaq rose.
Among other companies to gain after reporting quarterly results, No. 1 online ad firm DoubleClick Inc.
(Nasdaq:DCLK - news) rose to $7.99 on electronic trading system Instinet from a close of $7.49 after
reporting a loss that was slightly lower than the average forecasts of analysts surveyed by Thomson
Financial/First Call.
Playboy Enterprises Inc. (NYSE:PLA - news) had not traded on Instinet after closing at $12.99 during
regular trading. The adult-material publishing company said it was cutting 90 jobs, half at Playboy
Online, as one of several steps to ensure profitability in 2002 and save about $8 million to $10 million a
year.
The Nasdaq 100 pre-market indicator gained 19.55 points, or 1.4 percent, pointing to a gain in a
basket of the 100 largest non-financial stocks in the Nasdaq 100 index after hours.
Stocks rallied on Thursday, rebounding to levels before the deadly Sept. 11 attacks on the United
States sent the market reeling, as upbeat corporate results ignited hopes for better days ahead.
``After the attacks, people were worried about the near-term impact on earnings, but now that we're
getting the results, they either aren't as bad as anticipated or they're coming in even better,'' said Mark
Foster, portfolio manager and chief investment officer of Kirr, Marbach & Co., which oversees $400
million.
``Valuations are attractive and there's fiscal and monetary stimulus coming in,'' he said. ``It sets up a
decent fourth quarter for the market.''
Thursday was the one-month anniversary of the attacks, and the New York Stock Exchange (news -
web sites) observed a moment of silence at 8:48 a.m. EDT.
The broad Standard & Poor's 500 Index (^SPX - news) climbed 16.44 points, or 1.52 percent, to
end at 1,097.43. The technology-led rally helped the index surpass the Sept. 10 close of 1,092.54.
The S&P 500 is closely watched as many portfolio managers use it to measure their performance.
A surge in computer chip and chip-equipment stocks also hoisted the technology-laced Nasdaq
Composite Index (^IXIC - news) above pre-attack levels. The index gained 75.21 points, or 4.62
percent, to 1,701.47.
The Dow Jones industrial average (^DJI - news) jumped 169.59 points, or 1.84 percent, to 9,410.45.
The Dow is still down more than 2 percent from Sept. 10.