Here’s The Latest After-Hours Earnings News

April 24, 2003
Daniel Beighley

The
major indexes closed negative as the bulls failed to maintain their
three-day winning streak. Price action held a narrow range for the session, as
biotechs were best bid Genzyme receiving FDA approval for its Fabry disease
drug, and Gilead Science beat its earnings expectations by nine cents. The
Biotechnology Index closed above its 200-day ema for a three-month high. The
market leading semiconductors and broker/dealers closed just off the session
lows, as overall volume for the day came in around average. Tomorrow will be a
big one for econ data with GDP-adv., chain deflator, Michigan sentiment, and
home sales numbers to be released.

After the bell Amazon.com
(
AMZN |
Quote |
Chart |
News |
PowerRating)
posted earnings $0.06 ahead of expectations with profits of $0.10 per share.

In economic news, durable
goods rose 2.0% which was better than the loss of 0.6% expected, and initial
claims came in at 455K vs. the expected 425K.

The Ten Year NoteÂ
was +205 at 114 195.

The US dollar was -0.46
at 98.56.

Volume was average,
with the NYSE coming in at 1,460,592,000 and the Nasdaq at 1,608,571,000.

Market breadth was negative,
with NYSE declining issues over advancing issues by a ratio of 1.42, and down
volume over up volume by a 2.14 ratio. Nasdaq declining issues over advancing
issues came in at 1.32, and down volume beat up volume by a 1.30 ratio.

The
VIX
was -0.20 at 23.29. The TRIN
was +0.76 at 1.52.

Biggest Dow losers were:

Stocks in the news:

Steel maker Nucor
(
NUE |
Quote |
Chart |
News |
PowerRating),
-2.25% at 40.36, sold off after it beat its first-quarter earnings expectations
by $0.01 with profits of $0.23 per share. The company cited higher raw material
and energy costs as it profits were down 12% from a year ago.

Biotech and drug company Endo
Pharmaceuticals
(
ENDP |
Quote |
Chart |
News |
PowerRating), +20.96% at 16.85, shot higher after beating its
first-quarter earnings by $0.13 with profits of $0.13 per share. The company
also raised its outlook for the year.

Also in the biotech and drug
biz, Affymetrix
(
AFFX |
Quote |
Chart |
News |
PowerRating), -4.72% at 17.33, was lower after missing its
first-quarter earnings by $0.01 with profits of $0.05 per share.

Insurer Aetna
(
AET |
Quote |
Chart |
News |
PowerRating),
+1.09% at 48.93, beat its first-quarter earnings by $0.48 with profits of $1.34
per share.

A day after posting impressive
earnings, AT&T
(
T |
Quote |
Chart |
News |
PowerRating), -2.64% at 16.56, was downgraded by UBS Warburg
to “reduce” from “neutral” to beliefs that strong
performance in its consumer business is not sustainable.

Hotel company Marriott
International
(
MAR |
Quote |
Chart |
News |
PowerRating), -0.94% at 35.60, beat its first-quarter earnings by
$0.01 with profits of $0.36 per share. The company has lowered its outlook due
to uncertainty over the effects of the war in Iraq and the SARS virus.

Chip maker Qualcomm
(
QCOM |
Quote |
Chart |
News |
PowerRating),
-1.06% at 32.63, beat its second-quarter earnings by $0.02 with profits of $0.38
per share. The company has also raised its guidance for the full year 2003.

Also in the chip biz, KLA-Tencor
(
KLAC |
Quote |
Chart |
News |
PowerRating), -0.04% at 40.90, beat its third-quarter earnings by $0.02 with
profits of $0.14 per share. The company has also guided below consensus for the
fourth-quarter.

Software maker Siebel
Systems
(
SEBL |
Quote |
Chart |
News |
PowerRating), +1.27% at 8.74, reported first-quarter earnings in line
with expectations with profits of $0.01 per share.

Drug maker Johnson &
Johnson
(
JNJ |
Quote |
Chart |
News |
PowerRating), +1.23% at 57.50, received FDA approval for its
drug-eluting Cypher stent.

Communications services company
SBC Communications
(
SBC |
Quote |
Chart |
News |
PowerRating), +3.30% at 22.52, beat its first-quarter
earnings expectations by $0.05 with profits of $0.42 per share.

Air carrier JetBlu
(
JBLU |
Quote |
Chart |
News |
PowerRating),
+4.20% at 31.44, beat its first-quarter earnings expectations by $0.03
with profits of $0.25 per share.

Paper and paper product maker International
Paper
(
IP |
Quote |
Chart |
News |
PowerRating), -0.89% at 35.40, beat its first-quarter earnings by $0.02
with profits of $0.14 per share.

Insurer AFLAC
(
AFL |
Quote |
Chart |
News |
PowerRating),
-11.50% at 30.93, was downgraded by Merrill Lynch to “sell” from
“neutral” after beating its its first-quarter earnings consensus by
$0.02.

Chemical manufacturing company Cabot
Microelectronics
(
CCMP |
Quote |
Chart |
News |
PowerRating), -6.24% at 44.44, missed its second-quarter
earnings by $0.02 with profits of $0.37 per share.

Computer services company
Fiserv
(
FISV |
Quote |
Chart |
News |
PowerRating), -6.47% at 29.75, was downgraded by Goldman Sachs to
“underperform” from “in-line”.

Biotech and drug firm
Celgene
(
CELG |
Quote |
Chart |
News |
PowerRating), +2.66% at 27.50, beat its first-quarter earnings by
$0.03 with profits of $0.01 per share.

Food processor Sara Lee
(
SLE |
Quote |
Chart |
News |
PowerRating), -10.33% at 17.70, missed its third-quarter earnings expectations by
$0.01 with profits of $0.33 per share. The company has also guided lower for the
full year.

Insurance company WellPoint
Health
(
WLP |
Quote |
Chart |
News |
PowerRating), -0.05% at 73.62, beat its first-quarter earnings
expectations by $0.08 with profits of !1.29 per share.

From TM’s Momentum
List, business services company eResearch Technology
(
ERES |
Quote |
Chart |
News |
PowerRating),
+3.72% at 30.60.

From TM’s Implosion
List, electronic retailer Sony Corp.
(
SNE |
Quote |
Chart |
News |
PowerRating), -13.02% at 27.25.

danielb@tradingmarkets.com

Here’s The Latest After-Hours Earnings News

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