The Night Watch: Evening Bargain Hunters Scoop Up Tech Issues - TheStreet

The Night Watch: Evening Bargain Hunters Scoop Up Tech Issues

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(Updated from 6:57 p.m. EST)

Big-hearted investors picked up downtrodden technology stocks in tonight's extended trading session, taking many of them in from the cold.

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After dropping 109 points to 2598 on Thursday and closing below 2600 for the first time since Aug. 12, 1999, the

Nasdaq Composite Index posted a 47.3 point gain to finish at 2645.2 today, giving beaten down tech a bit of much-needed relief. Still, the Comp is down nearly 50% since last March. For the week, the Nasdaq finished behind 8.9%.

On the night watch, shares of

Intel

(INTC) - Get Report

, climbed back 2.4% on

Instinet

and edged up 2% on

Island

, having tumbled more than 10% during the day.

Networking giant

Cisco

(CSCO) - Get Report

tacked on 1.5% on Instinet to its 1.3% daytime increase, while software honcho

Microsoft

(MSFT) - Get Report

erased its regular session 1.3% loss with gains of more than 2% on Instinet and Island.

WorldCom

(WCOM)

added 1.6% on the after-hours market. But fellow telecom issue

Ericsson

(ERICY)

did not fare as well in after-hours trading: It dropped 1%. Both stocks gained more than 7% amid today's Nasdaq upswing.

Investors were less kind to

NorthPoint Communications Group

(NPNT)

, which shed 47% to 53 cents on Island. Earlier this week, the company said it would explore "legal remedies" against

Verizon Communications

(VZ) - Get Report

, which backed out of an agreement to purchase a controlling stake in NorthPoint.

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.

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.