Updated from 5:03 p.m. EST

Lucent

(LU)

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.

Cisco

(CSCO) - Get Report

was slipping 0.4% to $16.30, and

Juniper

(JNPR) - Get Report

was ticking up 0.1% at $12.97.

Among other active issues,

Intel

(INTC) - Get Report

was off 0.2% at $31.29, and

Sun Micro

(SUNW) - Get Report

was down 0.2% to $9.46.

Yahoo!

(YHOO)

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%.

Anadigics

(ANAD)

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,

Verity

(VRTY)

was climbing 12% to $17.20, and

ATI Technologies

(ATYT)

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.