One of the biggest winners in Thursday's after-hours session was

Microsoft

(MSFT) - Get Report

, which saw massive trading volume after the software giant

knocked out Wall Street expectations for the third quarter.

The Redmond, Wash.-based software company pocketed a profit of $4.29 billion, or 45 cents a share, on revenue that jumped 27.3% year over year to $13.76 billion. Analysts were looking for income of 39 cents a share on $12.57 billion in revenue. Last year, Microsoft made 35 cents a share. Its stock leapt $3.61, or 11.3%, to $35.60.

Vonage

(VG) - Get Report

, the beleaguered voiceover Internet protocol (VoIP) calling provider, rocketed some 80% after

settling its patent dispute with

Verizon

(VZ) - Get Report

. Specific terms of the deal depend on the outcome of a Court of Appeals rehearing. Shares of the Holmdel, N.J., company were up $1.13 to $2.66.

Evergreen Solar

( ESLR), which develops solar-power products, halved its third-quarter loss from last year to 4 cents a share, or $3.7 million. Analysts were expecting a loss of 6 cents a share, less special items. The Marlboro, Mass., company's stock bounced 10.5% to $10.20.

Panacos Pharmaceuticals

(PANC)

also tightened its third-quarter loss to a better-than-expected 15 cents a share.

MEMC Electronic Materials

(WFR)

, which makes wafers for the semiconductor industry, said non-GAAP income totaled 81 cents a share to come in above the consensus estimate.

Panacos shares surged 5.3% to $1.99, while MEMC jumped 10% to $65.25.

Trident Microsystems

( TRID), however, ranked prominently among the postclose losers on soft guidance. The Santa Clara, Calif., chipmaker forecast fiscal second-quarter revenue of between $70 million and $72 million, which would be well below the $91.7 million average estimate.

First-quarter income was above the mean, but shares were still plummeting 27.9% to $8.80.

Also issuing a below-par outlook was

Varian Semiconductor Equipment Associates

( VSEA), which expects next-quarter sales of $250 million to $260 million, against the $281.9 million targets. Shares of the Gloucester, Mass., company slid 11.4% to $42.19, also despite positive results for the most recent quarter.

And California-based

KLA-Tencor

(KLAC) - Get Report

, another semiconductor-equipment maker, said fiscal first-quarter income sank 31.3% year over year to 46 cents a share, or $88.2 million. Shares gave up $1.91, or 3.6%, to $50.68.