Computer Horizons (CHRZ): The information technology company said it expects third-quarter earnings to be below estimates, in part because of slowed sales during the summer. Shares of Computer Horizons fell $1.16, or 17 percent, to $5.63.
Corel (CORL): Microsoft invested $135 million in this struggling software maker, gaining a 24.6 percent stake in the company. The two companies will work together to develop and test products for Microsoft's .Net effort, which lets customers "rent" software over the Internet. Shares of Corel rose $3.06, or 83 percent, to $6.75.
Dset (DSET): The provider of software and services to the telecommunications industry said it expects to lose 25 cents to 34 cents a share in the third quarter. The company was expected to earn 23 cents, according to analysts polled by First Call/Thomson Financial. Shares of Dset fell $12.56, or 63 percent, to $7.38.
NetCreations (NTCR): Internet advertising company DoubleClick said it will buy NetCreations, which sells email marketing services, for $191 million in stock. DoubleClick will issue 0.41 shares of its stock for each share of NetCreations. Shares of NetCreations rose 75 cents, or about 6 percent, to $12.13. Shares of DoubleClick rose 28 cents, or 95 percent, to $29.91.
Systems & Computer Technology (SCTC): The technology services company said it expects earnings for its fourth quarter ended Saturday to be 9 cents to 13 cents a share, short of the 25 cents expected by analysts polled by First Call. Shares of Systems & Computer Technology fell $4.50, or about 26 percent, to $12.50.
Xerox (XRX): The printer and copier company said yesterday it expects a third-quarter loss instead of a previously forecast profit because of weaker-than-expected sales. The Stamford, Conn.-based company said it expects a loss of between 15 cents and 20 cents per share, compared with a profit of 12 cents per share expected by analysts surveyed by First Call. Shares of Xerox fell $2.81, or about 18 percent, to $12.50.