Updated from 5 p.m. EST

Cisco

(CSCO) - Get Report

was the undisputed volume leader in extra trading Wednesday, but investors, after initially bidding up the stock, were bailing out as the company's post-earnings conference call progressed.

Even before the earnings press release came out following the close of trading, investors

knew the maker of switches and routers would beat estimates. In the first hour of extended trading Cisco climbed around 4%.

Lately however, Cisco was losing 7.6% to $17.20 on Instinet. The

company posted second-quarter earnings of 9 cents a share. Analysts were expecting earnings of 5 cents. Sales fell to $4.8 billion from $6.7 billion in the year-ago quarter, but the top line rose 8% sequentially.

WorldCom

(WCOM)

, which will report its quarterly results Thursday, was unchanged at $6.69. The

Nasdaq 100 Unit Trust

(QQQ) - Get Report

was up 1.1% to $36.43.

Ciena

(CIEN) - Get Report

was climbing 2% to $9.20.

Tyco

(TYC)

was flat at $25.92 after gaining 12.2% in regular trading.

Halliburton

(HAL) - Get Report

was ticking up 0.3% at $13.05, and

Sprint PCS

(PCS)

was inching up 0.2% to $10.02.

Intel

(INTC) - Get Report

was rising 1.2% to $33.30, and

Sun Micro

(SUNW) - Get Report

was ahead by 1.4% at $9.71.

Xilinx

(XLNX) - Get Report

was up 2.2% to $41.05.

Elsewhere,

Mercator Software

(MCTR)

was gaining 4.2% to $5.20 after the company posted a profit, before items, for the fourth quarter. Including items, the company lost 26 cents.