Microsoft (MSFT): Goldman Sachs analyst Richard Sherlund cut revenue and earnings estimates for the company, citing sluggish demand for personal computers. Sherlund cut his earnings-per-share estimate for the 2001 fiscal year to $1.88 from $1.91. Shares of Microsoft fell $3.38, or almost 6 percent, to $53.31.
Motorola (MOT): The cell phone maker warned that it expected earnings of 15 cents per share, compared to the average analyst estimate of 27 cents per share. Motorola also cut its fourth-quarter sales estimates to $10 billion from $10.5 billion. Shares of Motorola fell 44 cents, or about 2 percent, to $17.38.
Scient (SCNT): The Internet consulting company said Wednesday it was laying off 460 employees and expects a fourth-quarter loss of 16 cents per share. Analysts polled by First Call/Thomson Financial expected the company to earn 8 cents per share. Shares of Scient fell $1.97, or almost 44 percent, to $2.53.
Yahoo (YHOO): WR Hambrecht analyst Derek Brown downgraded the Web portal to "neutral," citing weakness in online advertising. Shares of Yahoo slid $2.25, or 6 percent, to $35.25.
Hewlett-Packard (HWP): The maker of computers and computer equipment was downgraded to "neutral" from "attractive" by Bear Stearns. Shares of HP were unchanged at $32.
Ciena (CIEN): The fiber-optic equipment maker reported fiscal fourth-quarter earnings that beat analyst estimates by 2 cents. Ciena also raised its outlook for fiscal 2001 revenue growth to 75 percent to 85 percent. Shares of Ciena gained $1.69, or almost 2 percent, to $97.06.
Discuss: Equity movers: Microsoft, Motorola, Yahoo
Be respectful, keep it clean and stay on topic. We delete comments that violate our policy, which we encourage you to read. Discussion threads can be closed at any time at our discretion.