After-hours traders took their cues from earnings news Thursday, and based on the action, they didn't like what they saw.

JDS Uniphase

(JDSU)

was dropping 6.2% to $7.40 in extended trading on Instinet. After the close, the company reported a

second-quarter loss of $1.60 a share. Taking out various items, the networker lost 19 cents. Excluding product lines acquired from

IBM

(IBM) - Get Report

in December, the company expects sales in the next quarter to fall 10% to 15% sequentially.

PeopleSoft

(PSFT)

was giving back 6% to $36.12 after the company beat earnings expectations.

VeriSign

(VRSN) - Get Report

was gaining 2.1% to $37 after turning in a better quarter than analysts were expecting.

Qualcomm

(QCOM) - Get Report

was losing 4.5% to $41.75. Following the close, the company posted earnings of 23 cents a share, excluding items, for the latest quarter, matching estimates.

The

Nasdaq 100 Tracking Stock

(QQQ) - Get Report

was among the most active issues in late Instinet trading, where it slipped 0.8% to $38.63.

TheStreet Recommends

Bristol-Myers Squibb

(BMY) - Get Report

,

Ford

(F) - Get Report

and

Kroger

(KR) - Get Report

were also among the volume leaders.

Cisco

(CSCO) - Get Report

was off 1.2% at $18.83, and

Oracle

(ORCL) - Get Report

was shedding 0.9% to $17.10.

Microsoft

(MSFT) - Get Report

was down 0.4% to $64.35, and

Intel

(INTC) - Get Report

was lower by 0.7% to $32.98.