The Night Watch: A Subdued Evening Sees Action From the Usual Daytime Suspects

Also, Bank One climbs on executive moves, Autoweb is up on revenue figures.
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Monday after-hours activity was subdued. With very little news, the zoned-out folks in front of the screens are working some of the

Nasdaq's

most active:

Microsoft

(MSFT) - Get Report

,

Dell

(DELL) - Get Report

and

Cisco

(CSCO) - Get Report

. All are among

Island's

10 most heavily traded.

Bank One

(ONE) - Get Report

, obviously sick of looking more like No. 2, said postclose it was hiring Jamie Dimon, former

Citigroup

(C) - Get Report

president, who was forced out when Citigroup merged with

Salomon Smith Barney

.

Dimon, reputed to be a formidable recruiter and an experienced manager, will be president and chief executive officer of Bank One, which has watched its stock price drop from an all-time high of 63 9/16 last summer to the low 30s. Lately, the shares were up 1 1/8 to 32 on 364,000

Instinet

shares.

Dimon takes over from John McCoy, who retired in December after the bank warned analysts twice last year that problems with its credit card unit would cause the company to miss earnings expectations.

It used to be that kicking the tires and checking under the hood was enough research for buying a car. (That, and haggling with the dealer, or stealing it from the lot.) But

Autoweb.com

(AWEB)

, a company that's trying to change all that, is apparently doing a pretty good job. The company said today that revenue is expected to be between $14 million and $15 million, 5% to 10% above original estimates.

And first-quarter losses are expected to be at least 25% below the company's original estimates, basically because the company's being thrifty and hiring less staff than anticipated.

The stock was cheered by the after-hours denizens, who were trading it up 1 to 9 3/16 on 461,000 Island shares. It was the second-most active on

Archipelago

, with 68,000 shares traded.

Incara Pharmaceuticals

(INCR)

today received a patent for a product that can develop into functioning liver tissue.

The company said, pre-close, it will begin human clinical trials in 2001 to investigate the transplantating of these cells by intravenous infusion as a treatment for patients suffering from liver failure and certain inherited metabolic diseases. Shares, which closed at 7 5/16 today, were lately off 1/16 to 7 1/4 on 31,000 Island shares.

OK, decipher this if you can.

Legato Systems

(LGTO)

said today that it was selecting

OnDemand's

business-to-business (that's B2B, if you don't get the lingo) portal to "optimize channel partnerships and sales performance." Legato is a leader in global enterprise storage management, because somebody has to be.

The company's stock was up 1 3/4 to 47 5/8 on 56,000 Island shares.

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 8 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.