This Online Giant Is Down In After-Market Trading

July 24, 2003
Vincent Mao

In economic news, Initial
Jobless Claims fell by 29,000 to 386,00. Economists had expected claims to come
in at 415K. It was the first time since the week of February 8 that claims have
been below 400,000.

The 10-year U.S. Note
was -125 at 113 090.

The dollar was -.01 at
95.59.

Gold was +2.4 at 362.7.

Crude Oil was +0.55 at
30.22.

Volume is
1,553,550,000 on
the NYSE, and 1,895,976,000 on the Nasdaq.

Market breadth was negative,
with NYSE declining issues over advancing issues by 1.06, and down volume over
up volume by 1.39. Nasdaq declining issues over advancing issues, 1.08, and down
volume over up volume, 1.47.

Top Dow stock(s) were:

Stocks in the news:

After the close eBay
(
EBAY |
Quote |
Chart |
News |
PowerRating) beat
estimates and guided higher, posting revenues up 91% from a year ago. The
company also said they will split the shares 2:1. The stock traded down in the
after market.

After reporting
better-than-expected second quarter earnings and revenues, AFLAC
(
AFL |
Quote |
Chart |
News |
PowerRating)
traded lower today. For the second quarter, the company earned 40
cents a share compared to 40 cents a share during the same period a year ago.
The results topped analysts’ estimates by 3 cents. Revenues of $2.9 billion also
topped estimates of $2.8 billion. AFL closed at 30.97, down 0.02.

AT&T
(
T |
Quote |
Chart |
News |
PowerRating) is higher by
6.4% after the Dow component reported second-quarter results that easily topped
estimates. Ma Bell earned 68 cents a share compared to a loss a year ago.
Analysts had expected the company to earn 53 cents a share. The company also
announced that it would raise its quarterly dividend by 5 cents. In addition,
the company announced plans to buy back up to $2 billion in debt.

Biotech giant Biogen
(
BGEN |
Quote |
Chart |
News |
PowerRating)
reported second-quarter results of 38 cents a share compared to 29 cents during
the year-ago quarter. The results topped expectations by 2 cents. Biogen also
reaffirmed full-year estimates of $1.72 to $1.85. However the shares are under
pressure today after results of a Phase III trial of its Crohn’s disease drug,
Antegren, did not meet expectations. BGEN closed down 2.57 to 38.61.

Shares of chip maker Cirrus
Logic
(
CRUS |
Quote |
Chart |
News |
PowerRating) was lower after the company posted a
wider-than-expected first-quarter loss. Cirrus reported a loss of 29 cents a
share compared to a loss of 19 cents a share in the year-ago quarter. Analysts
had been looking for a loss of 14 cents a share. CRUS fell .15 to 4.55.

Shares of Citrix Systems
(
CTXS |
Quote |
Chart |
News |
PowerRating) fell after the company reported second-quarter
results excluding items of 18 cents a share compared to 7 cents a share in the
year-ago quarter. The results were a penny better than consensus estimates.
However the company also warned that third-quarter results could come in below
estimates. Citrix is expecting to post third-quarter results between 15 to 17
cents a share compared to analysts’ estimates of 17 cents a share. CTXS fell
5.00 to 18.25.

Computer Associates
(
CA |
Quote |
Chart |
News |
PowerRating)
traded higher after the company unexpectedly returned to
profitability in its latest quarter. The company reported first-quarter results
of 2 cents a share compared to a loss of 11 cents a share in the year-ago
quarter. Excluding charges, the company earned 14 cents a share, beating
estimates of 9 cents a share.

Video game maker Electronic
Arts
(
ERTS |
Quote |
Chart |
News |
PowerRating) was higher after the company reported a 148% jump
in quarterly profits. Due to strong sales of titles such as “NBA Street Vol. 2”
and Def Jam Vendetta, the company earned 12 cents a share compared to 5 cents a
share in the year-ago quarter. The company also raised second-quarter guidance
to between 35 to 42 cents a share compared to consensus estimates of 40 cents a
share. ERTS gained 4.02 to 81.68.

Homebuilder Pulte Homes
(
PHM |
Quote |
Chart |
News |
PowerRating) rose after the company reported
better-than-expected second-quarter results and raised full-year guidance. For
the second quarter, the company earned $1.95 a share compared to $1.45 in the
year ago quarter. The company also raised full year projections to $9 to $9.25
from $8.37. PHM rose 1.17 to 61.18.

Delta Airlines
(
DAL |
Quote |
Chart |
News |
PowerRating)
announced they are cutting their dividend to save money.

If you have any comments or
questions, please feel free to email me.

Vincent Mao

vincentm@tradingmarkets.com

This Online Giant Is Down In After-Market Trading

BUY THE FEAR, SELL THE GREED

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