Ralph
30.01.2001, 07:37
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Market Preview For Tuesday
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Gateway [GTW] late Monday said that company founder and Chairman Ted Waitt would replace Jeff Weitzen as chief executive, effective immediately. Shares of Gateway rose 12% in after-hours trading.
InfoSpace [INSP] after Monday's close reported a fourth quarter pro forma net profit of $0.04 a share, compared with a loss of $0.03 during the same quarter last year. Analysts polled by First Call expected $0.01 a share. The company, though, expects to post a pro forma net loss of $0.14 a share for 2001 and revenue for the year will be flat. Nonetheless, Infospace shares surged as much as 30% in after-hours trading.
After Monday's close, Expedia [EXPE] posted a loss for the second quarter that was much smaller than Wall Street forecasts and said its sales almost doubled. Expedia shares rose 8% in after-hours trading.
Shares of eGain Communications [EGAN] soared 48% in after-hours trading following the company's announcement that it lost $0.45 a share in the second quarter, beating analysts' expectations by $0.18. eGain also said it would breakeven by December 2001.
<u>Word On The Street</u>
"We're kind of in that transition period, which makes me really positive on the market in the wake of negative news," says Joseph McAlinden of Morgan Stanley Dean Witter Asset Management. "We're still getting plenty of negative news and yet the market is doing better cumulatively."
Market Preview For Tuesday
=========================================================
Gateway [GTW] late Monday said that company founder and Chairman Ted Waitt would replace Jeff Weitzen as chief executive, effective immediately. Shares of Gateway rose 12% in after-hours trading.
InfoSpace [INSP] after Monday's close reported a fourth quarter pro forma net profit of $0.04 a share, compared with a loss of $0.03 during the same quarter last year. Analysts polled by First Call expected $0.01 a share. The company, though, expects to post a pro forma net loss of $0.14 a share for 2001 and revenue for the year will be flat. Nonetheless, Infospace shares surged as much as 30% in after-hours trading.
After Monday's close, Expedia [EXPE] posted a loss for the second quarter that was much smaller than Wall Street forecasts and said its sales almost doubled. Expedia shares rose 8% in after-hours trading.
Shares of eGain Communications [EGAN] soared 48% in after-hours trading following the company's announcement that it lost $0.45 a share in the second quarter, beating analysts' expectations by $0.18. eGain also said it would breakeven by December 2001.
<u>Word On The Street</u>
"We're kind of in that transition period, which makes me really positive on the market in the wake of negative news," says Joseph McAlinden of Morgan Stanley Dean Witter Asset Management. "We're still getting plenty of negative news and yet the market is doing better cumulatively."