Investors may be lying low ahead of next week's

FOMC meeting, but some bargain hunters and profit takers continued to mingle in today's extended-hours trading.

Memory chip maker

Rambus

(RMBS) - Get Report

was the most popular stock on

Island

ECN, gaining 2.1% to $12.05, edging higher after dropping Thursday on news of its losses in court. Software maker

Ariba

(ARBA)

, the second-most actively traded stock, also rose slightly, gaining 0.7% to $6.95. The shares were slammed in regular trading on the

Nasdaq, after

Deutsche Banc Alex. Brown

analyst Jim Moore issued a cautionary note after attending an industry conference by research firm

Gartner Group

, which is predicting that by 2004, standalone e-procurement companies

will not exist.

"We learned that within the month, Gartner will release a highly negative report on the eProcurement software industry,'' Moore said in the note, urging investors to "remain cautious" on its stock.

Meanwhile, software stalwart

Oracle

(ORCL) - Get Report

rose 0.6% to $15.99 on

Instinet

while

i2 Technologies

(ITWO)

slipped 0.7% to $19.50.

And among one of the most heavily traded stocks on Instinet tonight, data transfer equipment maker

Adaptac

(ADPT) - Get Report

, which recently announced it is spinning off its software division

Roxio

(ROXIO)

, climbed 0.6% to $10.61, while Roxio fell 0.7% to $14.13. As a result of the spinoff, Adaptec has been delisted from the

S&P 500 and is being replaced by

Pepsi Bottling

(PBG)

, which recently fizzled 0.4% to $44.12 on Instinet.

And healthily in the green were shares of

Schering-Plough

(SGP)

, which finished higher at $38.30 on the

Big Board. The company continued its ascent tonight, climbing 1.2% to $38.75 on Instinet. Schering-Plough, the subject of recent

takeover speculation, received an after-the-bell blow from the

Food and Drug Administration's

advisory panel, which suggested its drug Claritin was

safe enough for nonprescription status.

Big-cap tech stocks, particularly the recently beaten-down networkers, were also seeing green in the extended hours.

Cisco Systems

(CSCO) - Get Report

was up 0.4% to $19.12 on Instinet, while

Juniper Networks

(JNPR) - Get Report

climbed 0.7% to $54.65 on Island.

Redback Networks

(RBAK)

gained 1.5% to $16.64 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.