continued their downward spiral in the after-hours session Friday, following word the company is being investigated by a congressional panel. The shares, which closed down $8.93, or 30%, at $21.15 in the regular session, were recently off another $1.65, or 8%, at $19.52 on Instinet. A House committee said it is starting an investigation into the way the biotech firm conducted clinical testing of its experimental cancer drug, Erbitux.
Moving in the other direction was
, which earlier Friday said it would meet with analysts to address what it called "baseless rumors." After climbing $1.38, or 3%, to $46.45 in the regular session, the company's share were up another 41 cents in the late session. In the past two weeks, the company has denied rumors that it is the subject of a
Securities and Exchange Commission
probe and that it planned to buy
Also gaining was
, which lost ground in regular trading despite issuing a positive earnings forecast. Dell closed down 75 cents at $28.10 at 4 p.m. EST but was lately getting 12 cents back on Instinet at $28.22. The company said it expects to earn about 17 cents a share in the fourth quarter, a penny better than expectations, on strength in its consumer segment.
Several tech issues were higher in after-hours trading.
was gaining 15 cents to $19,
was up 10 cents to $40.45,
was gaining 29 cents to $66.39,
was up 6 cents to $16.54, and
was adding 5 cents to $45.
Volume on Instinet was light Friday night, with about 4 million shares traded by 5:10 p.m.