Investors were selling shares of handheld computer makers after the close Thursday following news that

Palm

(PALM)

will

miss analysts' revenue estimates for the current quarter.

Palm was down 17% to $1.83 in Instinet trading after the bell, and the other well-known names in the sector were also suffering.

Handspring

(HAND)

was down 6.9% to $1.88, and

Research in Motion

(RIMM)

was off 5.5% to $13.85.

Cray

(CRAY) - Get Report

was the volume leader, trading up 1.3% to $3.98. The

Nasdaq 100 Unit Trust

(QQQ) - Get Report

was also active, tacking on 0.2% to $30.60.

Overall, volume was again on the light side. In the first two hours of extra trading, around 2 million shares changed hands among the 20 most active stocks on the Instinet platform.

Elsewhere among the most actives,

Ericsson

(ERICY)

was up 0.7%.

Microsoft

(MSFT) - Get Report

was inching up 0.1%, and

Intel

(INTC) - Get Report

was gaining 0.5%.

Cisco

(CSCO) - Get Report

and

Oracle

(ORCL) - Get Report

were each adding 0.2%.

Starbucks

(SBUX) - Get Report

was gaining 2.5% to $24.17 after the company said same-store sales rose 10% in May.

One of the big losers of the session was

KPNQwest

(KQIPQ)

, the European network operator that last week filed for bankruptcy. The stock was plunging 3 cents, or 12%, to 22 cents after the bell. In regular trading, KPNQwest skyrocketed 79% to 25 cents on speculation that

AT&T

(T) - Get Report

might be interested in acquiring the company's assets.