Shares of

Palm

( PALM) inched higher in the after-hours session after the handheld computer maker posted a narrower-than-expected loss in the second quarter.

The stock was the most heavily traded on Island, with over 500,000 shares changing hands by 4:30 p.m. EST. Palm gained 1.2% to $3.36, adding to regular-session gains. Rival

Handspring

( HAND) rose 0.9% to $7.07 on the after-hours platform.

Palm said its second-quarter loss was $36.6 million, or 6 cents a share, compared with pro forma earnings of $27.5 million, or 5 cents a share, last year. The average estimate of 23 analysts was for a loss of 7 cents a share, according to Thomson Financial/First Call.

Revenues for the second quarter fell to $290.6 million, down from $522.2 million last year, amid sharply lower revenues due to declining sales of its digital organizers from last year.

Meanwhile, Israeli medical laser company

Lumenis

( LUME) was the most active issue on Instinet, with 514,100 shares changing hands, although the company did not report any news after the close. The stock lately rose 0.3% to $17.

Medical device maker

Novoste

(NOVT) - Get Report

fell 21.9% to $9.30 on Instinet after announcing that Chief Executive William Hawkins is resigning to join

Medtronic

(MDT) - Get Report

.

Calpine

(CPN)

, the most actively traded issue on the New York Stock Exchange Wednesday, was a relatively active issue on Instinet. The company, which plans to raise $400 million via a convertible offering, recently had its credit rating slashed to junk status by Fitch. The stock, which ended regular trading higher at $14.69, was lately unchanged.

Blue-chip tech stocks were mixed, with

Cisco Systems

(CSCO) - Get Report

off 0.5% to $19.25, and

Intel

(INTC) - Get Report

up 0.2% to $33.11.

Oracle

(ORCL) - Get Report

inched up 0.1% to $14.94 on Instinet.