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(Updated from 7:30 p.m. EDT)

The after-hours market is all chipped up.

Shares of semiconductor manufacturer

Novellus Systems


, tonight's most actively traded stock, dropped 13 cents, or 0.4%, to $34.75 on


ECN and fell $1.02, or 2.9%, to $33.86 on



After the closing bell, the chipmaker announced earnings of 62 cents a share, in line with the

First Call/Thomson Financial

estimate and above the year-ago 18-cent profit. Additionally, Novellus said that revenue rose to $359.1 million from $154.9 million in the year-ago period.


(ALTR) - Get Altair Engineering Inc. Class A Report

also traded heavily tonight. The chipmaker decreased $1.19, or 3.7%, to $31.25 on Island and slid $1.20, or 3.7%, to $31.23 on Instinet.

TheStreet Recommends

Like Novellus, chipmaker Altera stated earnings that met analysts' expectations. The company listed a 28-cent profit, meeting the

First Call/Thomson Financial

forecast and up from the year-ago 13-cent profit. Sales rose to $395.4 million from $215.1 million last year.

Last Tuesday, both

Salomon Smith Barney


Lehman Brothers

hacked their ratings on Altera, sending the stock down 27.1% that day.

On the heels of an analyst downgrade today, the

Philadelphia Stock Exchange Semiconductor Index

dropped 43.8, or 5.78%, to 714.5 today. This morning, Solly issued a negative report on the chip market and lowered


(INTC) - Get Intel Corporation (INTC) Report

2001 earnings per share estimate by 20 cents. The world's largest semiconductor manufacturer lost $4.69, or 11.61%, to $35.69 during the regular session.

In extended trading, Intel shed 6 cents, or 0.2%, to $35.63 on Island and missed 6 cents, or 0.2%, to $35.63 on Instinet.

Outside of the chip arena, software manufacturer


(BVSN) - Get BroadVision, Inc. Report

surged $5.93, or 24.9%, to $29.74 on Island and $5.94, or 24.9%, to $29.75 on Instinet.

News that BroadVision will replace



in the

S&P 500 Index, after the close of trading October 23, encouraged nighttime investors to reach into their pockets. Such a move usually boosts a company's stock price.

Electronics for Imaging

(EFII) - Get Electronics For Imaging, Inc. Report

, a software manufacturer, dropped $4.25, or 24.8%, to $12.88 on Island. Tonight, the company listed earnings of 37 cents, which matched Wall Street's target. But the company warned that weak demand for its products will cut into fourth quarter earnings.


(DELL) - Get Dell Technologies Inc Class C Report

, which tumbled $1.95, or 7.2%, to $25.36 during the day, recovered 14 cents, or 0.6%, to $25.50 on Island and gained 8 cents, or 0.3%, to $25.44 on Instinet.


(MSFT) - Get Microsoft Corporation (MSFT) Report

, which dropped $3.38, or 6.3%, to $50.38 by day, recouped 69 cents, or 1.4%, to $51.06 on Island and moved up 63 cents, or 1.2%, to $51 on Instinet.

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

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


explains how the rules change when the sun goes down in Investing Basics: Night Owl, a section devoted to after-hours trading.