(Updated from 7:56 p.m. EST)

As traders rounded out the week on the after-hours market, they remained focused on the technology stocks in the headlines.

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After the closing bell,

eToys

(ETYS)

became the latest company -- yes -- to issue a profit warning. The online retailer cautioned that third-quarter financial results would fall short of its previous expectations, citing a harsh retail climate. In addition, the company said that it was looking into a merger, asset sale, or other restructuring.

For its quarter ending Dec. 31, eToys said that it expects sales of $120 million to $130 million, compared with the $210 million to $240 million the company previously estimated. In recent trading, shares of eToys dropped 6.9%, to 96 cents, on

Island

ECN.

Elsewhere,

Microsoft

(MSFT) - Get Report

, which sent markets reeling during the regular session today after warning for the first time in 11 years last night, edged up 0.6%, to $49.49, on Island and climbed 0.2%, to $49.27, on

Instinet

. It plunged 11.4% during the day. After the market close yesterday, Microsoft announced that revenue and earnings for the quarter ending Dec. 31 will come in below the company's previous expectations.

Oracle

(ORCL) - Get Report

, which countered Microsoft's blow with a good earnings report last night, added 1.5%, to $28.98, on Instinet and tacked on 1.75%, to $29.06, on Island. The enterprise software manufacturer gained 3.9% during the day.

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Topping the volume charts tonight,

Exodus Communications

(EXDS)

-- a Web hosting firm -- has pared its gains in the extended trading session. Having advanced 17.7% during the day, on the heels of the announcement earlier this week that it would be added to the

Nasdaq 100

(beginning Monday), Exodus dropped, 3.5%, to $32.88 on Instinet and sank 3.1%, to $33, on Island.

Island ECN, owned by Datek Online, offers trading, mainly in Nasdaq-listed stocks, from 7 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.