Updated from 6:16 p.m. EST

The selloff in the regular session sparked by the

interest-rate announcement turned into a veritable love-fest in after-hours trading, with investors giving back some of what was taken earlier in the day.

The initial news of the rate cut had the markets a bit confused. Stocks at first fell, then recovered, only to drop again. The market never rebounded from the last tumble, which took most tech stocks with it.

But in tonight's after-hours session on this first day of spring, some of the big-cap tech stocks that were on the chopping block today were getting back some of their losses.

Cisco

(CSCO) - Get Report

,

Oracle

(ORCL) - Get Report

,

Sun Microsystems

(SUNW) - Get Report

and

JDS Uniphase

(JDSU)

, which all dropped in the regular session, were trading higher on

Instinet

and

Island

ECN.

But not everything was happy in after-the-bell trading land.

PC-maker

Dell

(DELL) - Get Report

got a nice boost midafternoon on news that CEO Michael Dell said the company was on track to meet expectations it outlined when it

reported results last month.

Dell said markets in Europe and Asia are "pretty good," but he said it is still unclear whether there will be a recovery in the second half of the year.

The boost his comments gave to the stock didn't last, however. Shares got caught up in the post-announcement melee and ended the regular session down 44 cents to $24.44. On Instinet, Dell lost 38 cents to $24.06 and on Island, it was off 19 cents to $24.25.

One of the night's biggest losers on Instinet has been

Powerwave Technologies

(PWAV)

, which warned its first-quarter revenue will miss estimates and that it will post a loss for the quarter. The company, which makes amplifiers used in wireless communications networks, cited the slowdown in the economy and in the wireless communications sector for the downturn in customer orders.

The stock fell $1.94 to $12.25 on Instinet and $1.70, or 12.6%, to $12.41 Island.

Another straggler was

Learning Tree

(LTRE)

, down $7.50, or 28.3%, to $19 on Instinet and down $6.27, or 23.6% to $20.23 on Island. The company said it now anticipates sales for its second quarter between $57 million and $59 million. Learning Tree said analysts had projected revenue of $62 million.

PLX Technologies

(PLXT)

, which makes communications software, also warned that its first-quarter results would miss estimates. The company attributed its misfortune to an industry-wide inventory correction. PLX said it now expects first-quarter revenue to be 20% to 25% below fourth-quarter revenue of $16.3 million.

It was down 33 cents, or 6.1%, to $5.01 on Instinet.

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.