The Night Watch: InfoSpace Skyrockets on After-Hours Earnings News

(Updated from 7:28 p.m. EDT)

Internet infrastructure company InfoSpace (INSP Quote) rocketed to the top of tonight's most-active list on Island ECN, as a result of a better-than-expected third-quarter earnings report.

Shares of InfoSpace -- which offers content to developing Web sites -- advanced $3.47, or 17.08%, to $23.78 on Island and gained $3.44, or 16.9%, to $23.75 on Instinet, after the company announced a pro forma profit of 3 cents a share, ahead of the First Call/Thomson Financial consensus estimate of a break-even result. Third-quarter revenue rose to $58 million from the year-ago $20 million.

About two weeks ago, InfoSpace reported the completion of its $4 billion acquisition of Internet applications and technology provider Go2Net (GNET Quote), a purchase that has clearly benefited InfoSpace's operations.

In other earnings news, VeriSign (VRSN Quote) rose $9.44, or 6.4%, to $156.88 on Island and climbed $9.56, or 6.5%, to $157 on Instinet, on the back of its third-quarter financial results. VeriSign, which provides online security services, posted earnings of 18 cents a share, handily beating Wall Street's target of 6-cent profit and the year-ago 1-cent result.

Ahead of its eagerly anticipated earnings release after the bell tomorrow, shares of JDS Uniphase (JDSU Quote) advanced $1.25, or 1.76%, to $72.25 in postclose action on Island and increased 42 cents, or 0.6%, to $71.42 on Instinet.

During the regular session, the fiber-optics manufacturer plunged $24.06, or 25.31%, to $71, in the wake of Nortel Networks' (NT Quote) earnings report last night. As investors who've been watching the market know well, Nortel's announcement of slowing sales for the year hammered networking equipment stocks and triggered a broader technology selloff today.

Nortel (NT Quote), the New York Stock Exchange's most active in regular trading today, was also perched atop Instinet's most active list this evening. In twilight action, the stock gained 63 cents, or 1.4%, to $45.50 on Instinet.

SDL (SDLI Quote), JDS Uniphase's (JDSU Quote) acquisition target, dropped $1.19, or 0.51%, to $233 on Island.

Cisco Systems (CSCO Quote), which fell 7.74% in sympathy with Nortel by day, recouped some of its losses in the extended trading session. In recent action, Cisco edged up 75 cents, or 1.48%, to $51.38 on Island and improved 63 cents, or 1.2%, to $51.25.

Already up 7.82% during the regular session, Amazon.com (AMZN Quote) continued to make positive strides in after-hours activity. The Internet retailer, which reported strong third-quarter results last night, added 37 cents, or 1.15%, to $32.24 on Island.

Software manufacturer Vignette's (VIGN Quote) postclose results gave its stock a lift of 81 cents, or 2.8%, to $30 in nighttime trading on Instinet and a boost of $1.56, or 5.35%, to $30.75 on Island. Tonight, Vignette recorded a penny loss, in line with analysts' estimates and narrower than the year-ago 3-cent loss.

10 most active stocks on Instinet (6:30 p.m. EDT)
Company	Price	Change	Session Volume
Nortel Networks (NT Quote)	45.5	+0.63	438,620
VeriSign (VRSN Quote)	157	+9.56	310,480
JDS Uniphase (JDSU Quote)	71.42	+0.42	258,621
Cisco Systems (CSCO Quote)	51.25	+0.63	204,730
InfoSpace (INSP Quote)	23.75	+3.44	164,737
Intel (INTC Quote)	41.38	+0.06	142,308
Vignette (VIGN Quote)	30	+0.81	139,700
Microsoft (MSFT Quote)	61	-0.25	127,146
Applied Micro Circuits (AMCC Quote)	148	--	127,036
First Security (FSCO Quote)	14.88	--	123,600

This information is provided by Instinet, a wholly owned subsidiary of Reuters (RTRSY Quote). For further information, please contact Instinet at www.instinet.com.

10 most active stocks on Island ECN (8 p.m. EDT)
Company	Price	Change	Session Volume
InfoSpace (INSP Quote)	23.78	+3.47	606,666
VeriSign (VRSN Quote)	156.88	+9.44	260,808
JDS Uniphase (JDSU Quote)	72.25	+1.25	177,205
Cisco Systems (CSCO Quote)	51.38	+0.75	56,927
SDL ( SDLI Quote)	233	-1.19	50,833
Covad Communications (COVD Quote)	6.44	+0.09	46,955
Sun Microsystems (SUNW Quote)	109	+0.38	44,828
Applied Micro Circuits (AMCC Quote)	151	+3	41,553
Vignette (VIGN Quote)	30.75	+1.56	36,546
Amazon.com (AMZN Quote)	32.24	+0.37	35,253

Island ECN, owned by Datek Online, offers trading, mainly in Nasdaq-listed stocks, from 7 a.m. to 8 p.m. EDT.

Confused? TheStreet.com explains how the rules change when the sun goes down in Investing Basics: Night Owl, a section devoted to after-hours trading.