(Updated from 7:26 p.m. EDT)

Postclose warriors led

Amazon.com

(AMZN) - Get Report

out of the jungle, at least for tonight, on the heels of strong third-quarter results posted after the bell. Shares of the online retailer gained $3.19, or 10.8%, to $32.75 on

Island

ECN and climbed $3.25, or 11%, to $32.81 on

Instinet

.

Amazon.com, a bellwether for e-tail companies, reported a loss of 25 cents a share, narrower than the 33-cent

First Call/Thomson Financial

consensus estimate and smaller than the year-ago negative 26-cent result. Revenue increased 79% to $638 million from the year-ago $356 million. Analysts predicted the retailer would record $600 million in revenue, but estimates had reached as high as $650 million. (

TheStreet.com's

Katherine Hobson

discussed Amazon's results in a separate

story.)

During its fourth quarter, Amazon anticipates sales of $950 million to $1.05 billion and expects that pro forma losses will represent 5% to 8% of sales. By March 31, or the end of its first quarter, Amazon plans to have $700 million in cash and marketable securities. The retailer's stock, which is now 74% off its 52-week high of $113, shed 1.5% to close at $29.56 during the day session.

In other earnings news, the after-hours crowd sent

Nortel Networks'

(NT)

stock down $14.69, or 23.2%, to $48.63 on

Instinet

in reaction to its third-quarter results.

Earlier this evening, Nortel announced a profit of 18 cents a share, beating analysts' estimates by a penny and improving upon the year-ago 11-cent profit. But the company reported revenue of $7.31 billion, below a five-analyst estimate of $7.63 billion.

TSC

talked about Nortel's results in another

article.)

Shares of networking giant

Cisco

(CSCO) - Get Report

dropped in sympathy with its rival Nortel, falling $3.38, or 6.2%, to $51.50 on Instinet and decreasing $2.88, or 5.2%, to $52 on Island.

Optical play

JDS Uniphase

(JDSU)

, which reports earnings on Thursday, dropped $10.31, or 10.8%, to $84.75 on Instinet and tanked $8.56, or 9%, to $86.50 on Island. The company's acquisition target,

SDL

(SDLI)

, also moved down $26.73, or 8.5%, to $289.25 on Island and lowered $29.97, or 9.5%, to $286.02 on Instinet.

Although

Compaq

(CPQ)

posted better-than-expected results for its third-quarter, a warning about the boxmaker's fourth-quarter earnings took its stock down $1.25, or 4.3%, to $27.50 on

Redibook

ECN.

Compaq posted earnings of 30 cents per share, beating Wall Street's target of 29 cents and up significantly from the year-ago profit of eight cents per share. Sales rose 22% to $11.2 billion. The boxmaker, however, said that fourth-quarter earnings per share would come in below previous company targets, due to the weakening euro.

In a conference call with analysts tonight, CFO Jesse Greene noted that "Europe is one-third of our revenue,"

Reuters

reported.

Greene said that the company was comfortable with fourth-quarter earnings estimates of 37 cents a share, which falls behind Wall Street's 41-cent target.

Despite reporting higher-than-expected revenue and a lower-than-expected loss for its third quarter,

VerticalNet

(VERT)

traded down $2.88, or 8.8%, to $29.75 in postclose trading on Island. (

TheStreet.com's

Joe Bousquin

analyzed the questions that face the business-to-business company in a separate

article .)

Wondering how the market will open tomorrow? At last look, the

S&P 500 futures on

Globex

were down 0.54 to 1397.60, about 11 points above

fair value as calculated by

Prudential Securities

, and indicating positive sentiment for tomorrow's open. The thinly traded

Nasdaq 100

futures, however, were down 81.5 to 3385.04, about 124 points below fair value as calculated by

TheStreet.com

, and showing downward pressure for the Nasdaq's start on Wednesday.

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. EDT.

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.