Tonight's traders remained cautious on tech in the wake of
Decliners outpaced advancers in both extended trading platforms, and Cisco continued its slide, lately losing 0.3% to $19.07 on Instinet and 0.2% to $19.09 on Island. Overall volume was light as investors took a breather from today's
moderate selloff, but some after-the-bell news inspired tonight's activity.
climbed 2.5% to $42.00 on
on news it had its board authorize the repurchase of up to 50 million shares of common stock, or about 2.2% of total shares outstanding. EMC said the stock purchased under the buyback program will be available for various corporate purposes, including employee stock option and employee stock purchase plans.
Also getting a nice verdant shade was
, whose shares climbed 3.6% to $14.30 on Instinet after the telecom carrier said its quarterly loss almost doubled, but that sales rose. The stock finished at $13.80 on the
New York Stock Exchange. The company said the high cost of building its undersea and land-based communications networks offset surging sales of data services.
Nevertheless, investors weren't as bullish on rival
, which fell 0.2% to $18.25 in tonight's extended session on Instinet.
rose after the Internet access provider posted its first-quarter earnings results. Shares of the company were the most actively traded shares on
ECN, and lately gained 16.3%% to $0.50. Likewise, Internet Capital Group
, an e-business holding company, rose 8.0% to $3.37 on Island after reporting its first-quarter results.
Some large-cap tech bellwethers managed to fight the bearish tide started by Cisco. Equipment stalwarts
were trading higher in recent action on Instinet, while
rose 0.3% to $19.32.
On the Losing End
fell 2.0% to $12.55 on Island and 2.3% to $12.50 on Instinet after a federal jury ordered the microchip maker to pay $3.5 million for fraud to German chip maker
. The Los Altos, Calif.-based Rambus said that it would immediately appeal the verdict.
Chips had a tough day today as investors received bore with more bad news from the sector, the latest being
Tuesday night earnings warning. Chip leader
continued to take it on the chin, falling 0.3% to $29.84, while
Applied Micro Circuits
dipped 0.6% to $25.94 also on Instinet.
were among the large-cap tech stocks that sold off in today's extended session.
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. EST.
explains how the rules change when the sun goes down in Investing Basics: Night Owl, a section devoted to after-hours trading.