(Updated from 7:32 p.m.EST)

After whacking 47.9% off the value of

Emulex's

(EMLX)

stock in the daytime session, on news that the data storage company's third-quarter earnings and revenue might not be up to snuff if customers keep delaying orders, postclose traders have taken it down further in after-hours action. At last look, shares of Emulex were off 1.5% to $39.75 on

Instinet

and lower 0.9% to $40 on

Island

ECN.

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As they did during the regular session, investors have also gone after Emulex rivals.

Brocade Communications

(BRCD)

, which tumbled 15% today, fell 2% to $61.73 on Instinet and slid 1.6% to $61.99 on Island. Data storage giant

EMC

(EMC)

decreased 0.8% to $53.75 on Instinet.

By contrast,

QLogic

(QLGC)

, which tumbled with Emulex in daytime trading, recouped some points on the after-hours marketplace. Shares of QLogic were up 1.3% to $55.50 on Island, having dropped 22.1% today.

Investors Are Hooked on Photronics

Photronics

(PLAB) - Get Report

, a company that makes photographic plates used in semiconductors, beat analysts' expectations for the first quarter. The news has sent its stock soaring after hours.

Photronics posted a profit of 28 cents per share, compared with 13 cents per share in the year-ago period. Wall Street had expected the company to earn 25 cents per share. On the night watch, Photronics advanced 7.3% to $34 on Instinet.

MarchFirst Misses the Beat

After the bell, beleaguered Internet consulting firm

MarchFirst

(MRCH)

reported a fourth-quarter loss that was way below analysts' estimates, sending its stock down 33.8% to $1.66 on Island.

The company, which has laid off approximately 2,100 people as part of its effort to cut spending, lost 40 cents per share, compared with Wall Street's target of a 30-cent loss. Worse still, the company lowered its forward guidance. For the first quarter, MarchFirst expects to lose 22 cents to 31 cents, compared with analysts' expectations of a 6-cent loss.

PurchasePro.com Sporting Professional Gains

Business-to-business software maker

PurchasePro.com

(PPRO)

reported fourth-quarter earnings that beat Wall Street's expectations by a landslide, as revenue rose sharply from both the year-ago period and the latest third quarter.

The company posted earnings of 11 cents per share, compared to a year-ago loss of 11 cents per share. Boy did the analysts underestimate: They expected PurchasePro to lose a penny per share. On the back of its earnings release, the B2B firm is up 9.1% to $17.38 on Instinet and ahead 11.9% to $17.81 on Island.

InfoSpace Grounded Tonight

Shares of

InfoSpace

(INSP) - Get Report

, which leaped on last week's news that the company would offer an improved financial outlook today, have stumbled after the guidance was released this evening. The stock dropped 10% to $4.50 on Island.

The company, which syndicates Web site and wireless content, said that it will lose only one third as much money as expected (it has implemented cost-cutting measures to achieve profitability). But the company did not offer encouragement about its revenue or top-line forecasts. Bottom line: Investors were not impressed.

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

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

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.