Expect the following technology stocks to be among Wednesday's most actively traded issues: DLJDirect, Intuit, Juno Online, MindSpring Enterprises, Novell, 7th Street and StarMedia.
Tracking shares of DLJDirect's initial public offering priced at $20 a share on Tuesday, raising $320 million before fees for the 16 million tracking share issue. DLJDirect shares begin trading later today.
The second-largest U.S. computer services company said it may repurchase 13.2 million shares and reallocate the stock towards equity incentive and benefits programs. Shares dipped 1/2 to 57 9/16.
The financial software developer sauntered past analysts' estimates in its third quarter Tuesday, earning $47.3 million, or 73 cents a share, on sales of $239.7 million.
First Call consensus expected it to earn 70 cents a share.
The company credited the launch of QuickBooks 99 in January, along with strong growth in personal tax products and Internet e-finance services, for boosting sales.
Web-related revenue in the third quarter was 2 1/2 times larger than it was a year earlier, and now comprises more than 20 percent of Intuit's sales. Quicken.com traffic saw April page views of 180 million, up 10 percent sequentially, and up 137 percent year-over-year.
The free email service priced its 6.5 million shares at the top of its range Tuesday night. Shares start trading Wednesday at $13 a share.
The Internet service provider approved a 2-for-1 stock split late Tuesday. Its shares closed off 4 1/4 to 69 ahead of the announcement.
Company officials said the split will take affect on June 25 for all shareholders of record on June 11.
Last quarter, MindSpring beat first-quarter estimates by 3 cents a share, earning $4.6 million, or 16 cents a share, on sales of $61.6 million.
Novell topped analysts' estimates in its second quarter Tuesday, earning $38.7 million, or 11 cents a share, on sales of $315.6 million. Its shares closed off 1/4 to 23 3/4.
First Call consensus expected the network software developer to earn 10 cents a share in the quarter.
The $315.6 million in sales represents a 20 percent improvement versus the year-ago quarter when it earned $19.3 million, or 5 cents a share, on sales of $262.2 million.
Last quarter, Novell easily topped analysts' estimates and pushed the stock to a 52-week high of 28 1/8 in March.
Company officials said sales into Europe, the Middle East and Africa grew 35 percent to $105 million while sales into the Asia-Pacific region and Americas improved 23 percent and 13 percent, respectively.
The Latin American geared Web portal priced its initial public offering at the top of its range Tuesday. Shares will begin trading Wednesday at $15 a share.
If you thought the Wavephore Inc. (Nasdaq: WAVO) deal was big for 7th - this should pique your interest.
The character animation software company entered a distribution agreement with IBM Corp. (NYSE: IBM) that would distribute 7th Street's learning content on the Internet as well as on IBM's internal intranet. IBM will use 7th's streaming technology to deliver the content.
7th Level dropped 11/32 to 5 15/32.
-Eric C. Fleming contributed to this report.