THE REAL MOST ACTIVE Afternoon Sell-Off Punctures Advance.(MAKING MONEY)

Byline: JULIE HUYNH

The Dow industrial average burst above 10,000 intraday but retreated back below that level to end up 0.1%. The S&P gained 0.2%. Volume sank.

After four straight days of low-volume selling, Michaels Stores vaulted 4.95 to notch a new high of 43.45 on triple its average trading.

The nation's No. 1 arts and crafts retailer said late Thursday its fiscal 2002's first-quarter earnings rocketed 93% to 29 cents per diluted share. The results trampled the consensus estimate by 9 cents. Sales grew 15% to $603 million. Same-store sales were up 5% this year. Analysts see full-year guidance rising 24% to $1.81 a share.

Sears, Roebuck & Co. marched up 1.81 to a new high of 59.05 on above-average volume. Shares of the giant retailer have risen almost 10% since it cleared a short consolidation on May 14. Sears' earnings have turned around the past three quarters, rising 5%, 11% and 107%.

Chico's FAS bounced off its 50-day moving average, rising 1.77 to 38.27 on nearly double its average trade.

On Friday, investors finally reacted positively to Chico's upbeat earnings results. The retailer said Thursday it earned 46 cents a share for the fiscal first quarter, up 53%, vs. 30 cents in the year-ago period. ...