Tonight's traders remained cautious on tech in the wake of

Cisco Systems's

(CSCO) - Get Report


earnings confession.

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.

Image placeholder title

Go Green!

Storage company



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

Global Crossing


, 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.

Beaten-down stock

Rhythms NetConnections


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

JDS Uniphase




(CIEN) - Get Report

were trading higher in recent action on Instinet, while

Sun Microsystems

(SUNW) - Get Report

rose 0.3% to $19.32.

On the Losing End


(RMBS) - Get Report

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

Infineon Technologies


. 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

National Semiconductor's


Tuesday night earnings warning. Chip leader


(INTC) - Get Report

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.

Juniper Networks

(JNPR) - Get Report



(ORCL) - Get Report

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

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.