In what turned out to be a very mild session, the big news in the after-hours market was

Dell's

(DELL) - Get Report

post-market announcement that earnings and revenue for its first quarter will meet analyst expectations.

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The company, whose quarter ended on Friday, said it will post revenues of $8 billion and EPS of 17 cents a share for the first quarter of the current fiscal year. It will announce its final numbers for the quarter on May 17, along with a full quarterly report and comments on upcoming quarters. The

Thomson Financial/First Call

consensus estimate for Dell's earnings is currently 17 cents a share.

In the wake of the positive report, the stock jumped to the number one position on

Instinet's

most actively traded list, climbing 2.9% to $26.66. Dell was lately the third most-actively traded issue on Island, where it was also up 2.9%.

The rest of the after-hours market was a mild sea of green, with the usual tech names pushing ever so slightly into positive territory after the

Nasdaq

closed down by 18 points in the regular session.

Cisco

(CSCO) - Get Report

gained 0.5% to $19.34 on Instinet and was up 0.3% to $19.31 on Island trading.

Intel

(INTC) - Get Report

and

Sun Microsystems

(SUNW) - Get Report

each traded relatively flat, Intel gaining 18 cents to $31.34 and Sun down five cents to $19.50 on Instinet.

Chip-maker

Rambus

(RMBS) - Get Report

announced Friday that it would appeal a U.S. court decision to dismiss the claims it filed against

Infineon Technologies

( IFX), alleging patent infringement. The stock fell 7.5% in regular trading today, but clawed its way back up 18 cents to $13.60 on Instinet after-hours trading. The stock rose a lesser 14 cents on Island.

Otherwise, very light volume on Island after-hours trading was dominated by several penny stocks, each trading near the top of the most actives list.

CoreComm

( RTHM), a communications company, posted massive 150% gains during the day today, which really only translate to an increase in share price from 20 cents to 50 cents. The stock climbed another 26%, or 13 cents, in the after-hours.

Rhythms NetConnections

( RTHM), another communications company, slid into the number two spot on Island's most active list, posting gains of 86.7%, to 56 cents a share.

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.