The Night Watch: Amazon Drops After CFO Decides to Resign

Updated from 4:55 p.m. EST

Investors were punishing technology stocks in extra-session trading Tuesday, while keying on several big names in the data storage sector.

Amazon.com (AMZN Quote) was the volume leader and was dropping 4.5% to $15.25 after the online seller of books and music said its chief financial officer would resign later this year.

McData (MCDT Quote) and Brocade (BRCD Quote), which are involved in a patent dispute regarding a switch technology, were both sliding. McData was down 13.2% to $13.82, and Brocade was off 5.7% to $24.82. Elsewhere in the storage sector, QLogic (QLGC Quote) was lower by 3.6%, while Network Appliance (NTAP Quote) was falling 4.8%.

Computer Associates (CA Quote), Cisco (CSCO Quote), Dell (DELL Quote) and Sun Micro (SUNW Quote) were all on Instinet's list of most actively traded issues in extended trading, but the stocks were unchanged from their 4 p.m. EST closing levels.

Among other actively traded stocks, Ericsson (ERICY Quote) was inching up 0.2%. Costco (COST Quote) was tacking on 0.1%. Intel (INTC Quote) was up 0.4%, but the Nasdaq 100 Unit Trust (QQQ Quote) and Oracle (ORCL Quote) were both down 0.1%.