The Night Watch: Intel Recoups Some Losses After Hours

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(Updated from 6:33 p.m. EST)

Talk of a year-end rally came to a screeching halt, as the

Dow Jones Industrial Average and

Nasdaq Composite Index gave back a good-sized chunk of yesterday's gains in the regular session. On the night watch, tech stocks -- with

Intel

(INTC) - Get Report

and

Dell

(DELL) - Get Report

among the notable exceptions -- have continued to slide.

Intel

(INTC) - Get Report

, the most actively traded stock on

Instinet

and

Island

ECN, gained back nearly 2% of its 11.8% daytime loss on both platforms.

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This morning,

Salomon Smith Barney

semiconductor analyst Jonathan Joseph repeated comments from his Nov. 30 note, when he stated that the chipmaker's fourth quarter "is shaping up to be the worst in over a decade." Joseph

reiterated his reduced earnings estimate for the quarter today. Last week, Joseph lowered his earnings forecast to 39 cents a share from 42 cents a share. The current

First Call/Thomson Financial

consensus calls for Intel to earn 42 cents a share.

Shares of Dell, which dropped 11.1% on the heels of

Apple's

(AAPL) - Get Report

profit warning last night, gained back 1.4% in nighttime action on Instinet.

Among the stocks sliding after hours, technology giant

Cisco Systems

(CSCO) - Get Report

dropped approximately 0.1% on Island and Instinet, while

Juniper Networks

(JNPR) - Get Report

fell 1.6% on Island and Instinet.

Elsewhere, business-to-business solutions provider

Scient

(SCNT)

lowered its earnings and revenue forecasts for the third quarter, citing tightening technology spending by its clients and increased competition. The company expects to eliminate about 460 positions worldwide and close offices in Silicon Valley and in Austin, Texas. In extended trading, Scient plunged 26.9% on Island.

Scient expects to post a third-quarter loss of about $13 million, or 16 cents a share, before restructuring charges of $40 million to $45 million, to cover severance, closures and other restructuring costs. The B2B company broke even in the same period last year. According to

First Call/Thomson Financial

, Wall Street analysts expect the company to earn 8 cents a share for the third quarter.

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.