Updated from 6:36 p.m. ET

Oracle's

(ORCL) - Get Report

8% drop today was like a large boulder that rippled the technology waters. At night the world's biggest database-software maker managed to elude the force of gravity after posting first-quarter results last night. Though the company beat earnings expectations and set an always popular 2-for-1 stock split, weak application-software sales dogged the giant's daytime performance, but gave way to a slight recovery tonight. Oracle rose 50 cents to $78.81.

The daytime disappointment may have been as contagious as chicken pox in a crowded kindergarten, but infected heavy hitters like

Intel

(INTC) - Get Report

managed some relief by dark. The chipmaker ended the day 3.5% lower but recovered 18 cents to $57.70 as Friday faded into twilight.

Interestingly

Cisco

(CSCO) - Get Report

was down all day but spiked in the last 20 minutes of the session, ending the day 2.5% higher. By evening the Internet infrastructure giant was the second most traded stock on Island ECN, relinquishing 49 cents to $62.26 on 146,000 shares.

Net2Phone

(NTOP)

not only distinguishes itself with a ticker symbol that looks like a boy band but also by way of navigating the nascent field of Internet telephony. Yes, that's right, the Internet is not just for pornography anymore! You can actually make phone calls on it, long distance for really cheap.

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Something happened right before 3 p.m. EDT to spark sharp interest in NTOP as it spiked out of the red to close 6% higher. The message boards buzzed about a rumored joint venture, then

Dow Jones News Service

reported that Net2Phone and Cisco Systems plan to form an Internet telephony gateways joint venture called ADIR Technologies. The source of the article remained anonymous and company officials had no comment, but the mere suggestion of the deal induced buying. NTOP continued to climb $3.34, or 9%, to $37.16.

After the bell online car dealer

Autobytel.com

(ABTL)

said it expected third-quarter results to be slightly better than Wall Street consensus estimates of a 32-cent loss. The company also said that it expects revenue to grow by 65% to 70% from the same quarter last year. It rose 62 cents, or 12.8%, to $5.50.

Customer relationship management firm

Telespectrum

(TLSP)

dropped another 26% during the day session. Earlier in the week an analyst at Janney Montgomery Scott downgraded the stock to a hold from a buy after it traded below $3. It has been downhill ever since. To add to the company's troubles, its chairman resigned on Monday. The losses deepened another 12 cents, or 16%, to 65 cents.

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.