Updated from 5:45 p.m. EST

Woo-hoo!

The

Nasdaq finished the day in positive territory fired up by bargain hunters, which were still roaming in after-hours trading. But they weren't alone, with some profit-takers on the prowl.

We're going to start off with

Immunex

(IMNX)

, which finished the regular session up 81 cents to $18.88 despite hitting a 52-week low of $16.38 earlier in the day.

It dropped $9, or 47.7%, to $9.88 on more than 5 million shares on

Instinet

and was down $8.88 to $10 on

Island

ECN after the company along with its partner

American Home Products

(AHP)

announced that they wouldn't proceed with studies for Enbrel to be used for chronic heart failure, on advice from an independent data monitoring board. The drug is already used for rheumatoid arthritis, but analysts had predicted sales of $1 billion if it could also be used for heart failure. American Home Products was down $2.50 to $53 on Instinet.

The news didn't help many biotechs -- already having a bad day.

Imclone Systems

(IMCL)

, which hit a 52-week low in the regular session, was tacking on to its losses, down $1.38, or 5%, to $24.69 on Instinet. Also taking more hits in the after-hours were

Millennium Pharmaceuticals

(MLNM)

and

IDEC Pharmaceuticals

(IDPH)

.

MedImmune

(MEDI)

had bucked the trend in the regular session, gaining $4.13, or 14.6%, to $32.44, but was back in the ranks lately, falling $1.95 to $30.48 on Instinet as the victim of some profit-taking.

But all was not lost in after-hours trading, with

Red Hat

(RHAT)

jumping on news that the distributor of Linux operating systems beat estimates, coming in at break-even for the fourth quarter. The company's subscription revenue rose to $11.8 million from $8.14 million last year, while revenue from services increased to $15.2 million from $4.97 million last year.

The

Thomson Financial/First Call

four-analyst estimate was for a loss of 1 cent a share. The company was being rewarded, up $1.22 to $6.44 on Instinet and up $1.41 to $6.63 on Island.

Also, getting some good attention was

Tibco Software

(TIBX)

after its first-quarter earnings came in at 6 cents a share, 3 cents above the First Call 14-analyst estimate and up from a year-ago loss of 5 cents a share.

"Tibco's fundamental business remains strong. Our customers and partners are leaders in their industries, our technology is essential to the success of our customers' business, and our balance sheet is solid," said Vivek Ranadive, the company's chairman and CEO. "Despite the slowing economy, we nearly doubled our revenue over the same quarter last year. We remain critical for our customers' success by providing infrastructure software that enables them to improve operating efficiencies, reduce costs and capitalize on new revenue opportunities."

The stock was up 97 cents, or 12.1%, to $9 on Instinet and up about $1, or 12.4%, to $9.03 on Island.

There were even some big-cap tech stocks adding onto gains made before the closing bell.

Intel

(INTC) - Get Report

,

WorldCom

(WCOM)

and

Dell

(DELL) - Get Report

were all moving higher after ending the regular session on the upside.

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 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.