Updated from 5:03 p.m. EST



traded on heavy volume in Instinet action after the bell, and investors continued to send shares of the telecom equipment supplier even lower.

The company's shares were losing 0.8% to $4.88, after dropping 12.9% to $4.92 in regular trading. The

4 p.m. EST close on the

New York Stock Exchange, where Lucent was the most active stock, set a 52-week low.

In the first hour of extra-session trading, more than 1.3 million shares of Lucent had been swapped, good enough to outpace the second-most active issue, the

Nasdaq 100 Unit Trust

(QQQ) - Get Report

, by a factor of 10. Lucent alone accounted for nearly half of the total share volume among the 20 most actively traded stocks.

Other networkers were mixed.


(CSCO) - Get Report

was slipping 0.4% to $16.30, and


(JNPR) - Get Report

was ticking up 0.1% at $12.97.

Among other active issues,


(INTC) - Get Report

was off 0.2% at $31.29, and

Sun Micro

(SUNW) - Get Report

was down 0.2% to $9.46.



was losing 1.1% at $19, and

Computer Associates

(CA) - Get Report

, which earlier in the day

disclosed plans to sell $500 million of convertible debt, was unchanged at $18.30. In regular trading, CA lost 6.3%.



was one of the biggest winners in extended trading, gaining 7.7% to $13, after predicting that first-quarter results would be better than expected. The company, a maker of integrated circuits for broadband and wireless communications devices, forecast first-quarter revenue of about $19 million and a loss of 38 cents a share. According to First Call, analysts expect a loss of 40 cents for the quarter.

In other action,



was climbing 12% to $17.20, and

ATI Technologies


was up 6.4% to $13.98. The

S&P 500 Depositary Receipts

(SPY) - Get Report

were inching higher by 0.1% to $116.10.