(Updated from 7:11 p.m. EST)

Spring might be here, but the market isn't over its earnings blight.

Indeed, the chip sector, which performed fairly well today, got the latest chilblains from

Dallas Semiconductor

(DS) - Get Report

, which recently dropped 5% to $26.75 on

Instinet

, below its close of $28.16 on the

Big Board.

Dallas

warned tonight that its first-quarter revenue would fall roughly 30% sequentially because of canceled and rescheduled orders. For the first quarter ending April 1, Dallas Semiconductor expects to post revenue 30% below the top line of $130.1 million the company reported for the fourth quarter. Analysts surveyed by

Thomson Financial/ First Call

expect the Dallas firm to report $128.1 million.

Maxim Integrated Products

( PROX), which is due to merge with the chip giant, caught the cold and fell 3.20% to $43.50 on

Island

ECN, the other extended hours trading platform.

But the reception was warmer for semiconductor memory maker

Micron Technology

( NTIQ), which climbed 2.6% to $43.12 on Instinet after it said sales from its semiconductor operations during the quarter were "slightly profitable" at $1.05 billion. The Boise, Idaho, company, which tonight

postponed its results due to a delay by a subsidiary, reportedly said in a conference call that its inventory level was dropping.

Software developer

NetIQ

( WEBT) was a loser on the Instinet platform. The shares slid 12.4% to $17.63 as the company guided down third-quarter results. On Island, its shares tumbled 15.53% to $17.

The San Jose, Calif., firm said it sees third-quarter earnings, excluding acquisition, amortization and other charges, of 13 cents to 17 cents a share, compared with 11 cents a share in the same period last year. The Street expects third-quarter earnings of 21 cents a share.

NetIQ also said after the bell it was postponing its merger talks with

WebTrends

( WEBT) until March 20. WebTrends was lately off about 9.4% to $9 on both Island and Instinet.

In other news-related selling, Proxim

( PROX) stumbled after Intel

(INTC) - Get Report

announced it would back a competing wireless networking standard for the next generation of its home networking gear. The shares were off 1.39% to $8.88 on Island. Intel said that its next generation of consumer home networking gear will be based on the standard now used largely in corporate networks called Wi-Fi, or 802.11b. Sunnyvale, Calif.-based Proxim supports the competing Home RF standard, which is still considerably cheaper than Wi-Fi.

Instinet investors also sold off on

Applied Biosystems Group

(ABI)

after the company "updated" its short-term business outlook "in light of the recent uncertainty in the economy." The shares dove 24.5% to $26.

The Foster City, Calif., company, whose software helped

Celera Genomics

( CRA) map the human genome, said today it sees "some modest softening" in its current quarter, but added that it expects its business to grow "at a compounded rate of 20%" in the long term.

But showing some spring,

Liberate Technologies

(LBRT) - Get Report

was one of Instinet's top gainers, rising 12.3% to $8, with positive earnings news. The Web access software maker, which is 34% owned by

Oracle

(ORCL) - Get Report

, posted a narrower-than-expected third-quarter loss of $8.9 million, or 9 cents share, compared with a loss of $12.1 million, or 14 cents a share. Analysts on average expected a loss of 12 cents a share for the quarter.

After-hours trading offered a bit of relief to some big-cap stocks on the sickly

Nasdaq. Chip giant Intel recently gained 1.7% to $25.98 on Instinet, while

Oracle

(ORCL) - Get Report

rose 1.3% to $14.94. Heavily traded

Microsoft

(MSFT) - Get Report

was lately up 0.6% to $50.38 on Instinet and

Sun Microsystems

(SUNW) - Get Report

gained 1.36% to $18.63 on Island.

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.