Instinet

( INGP) rose in premarket trading Friday after the

Financial Times

reported that

Nasdaq

I:IXIC

is negotiating to buy the electronic stock exchange. Instinet has been in play for most of the last year after majority owner

Reuters

( RTRSY) signaled a desire to lighten or eliminate its stake in the firm. Instinet was recently up 77 cents, or 13%, to $6.54.

Extreme Networks

(EXTR) - Get Report

said it lost $1.3 million, or 1 cent a share, in its third quarter, compared with a loss of $1.1 million, or 1 cent a share, a year ago. Analysts had been expecting a profit of 5 cents a share. Revenue was $92 million in the quarter, short of the $102 million consensus. The company also warned of soft revenue in its current quarter. On Instinet, the stock wad down 52 cents, or 10%, to $4.48.

RF Micro Devices

(RFMD)

said that is expects a loss of 33 cents to 34 cents a share on revenue of $150 million for the fourth quarter. Excluding items, the company expects a loss of 8 cents to 9 cents a share. The company had previously forecasted a loss of between a penny and 3 cents a share, excluding items. Analysts expected a loss of 2 cents a share, according to Thomson First Call. The stock was down 34 cents, or 6.88%, to $4.60 in after-hours trading.

Digi International

(DGII) - Get Report

said it earned $8.8 million, or 37 cents a share for the second quarter ended March 31, compared to $1.7 million, or 8 cents a share a year ago. Revenue for the quarter was $29.3 million. As a result of a settlement with the IRS on an audit of prior fiscal years, Digi recorded a reversal of $5.7 million of previously established income tax reserves, equaling 24 cents a share positive impact. Analysts were expecting earnings of 13 cents a share revenue of $30.1 million. The stock was down 26 cents, or 1.96%, to $13 in after-hours trading.

Sun Microsystems

(SUNW) - Get Report

said it lost $9 million, or break-even on a per-share basis, for the third quarter ended March 27, compared with a loss of $760 million, or 23 cents a share, a year ago. Revenue for the quarter was $2.62 billion. Excluding charges, the company lost $61 million, or 2 cents a share. Excluding charges, analysts expected Sun to break-even on sales of $2.73 billion, according to Thomson First Call. The stock was down 21 cents, or 5.3%, to $3.78.