Night traders giveth what the day session taketh away. After a fantastic flogging, several names found that evening brought mercy.

All of the stocks on

Island

ECN's top 10 recovered except for poor little

Novell

(NOVL)

. After its sunlit smackdown of 40%, Novell limped lower to a new 52-week low. Meanwhile, analyst after analyst jumped on the insult bandwagon. A little-known firm called

Goldman Sachs

cut its estimates on the software company. Anyone ever heard of

PaineWebber

? It lowered its price target to 15 from 27. Good thing more influential Wall Street firms didn't cut expectations for Novell or its stock might have plopped another 40%.

The wrath began last night, when Novell warned it would report lower-than-expected second-quarter profits. Sales flagged in the quarter from competition by a startup by the name of

Microsoft

(MSFT) - Get Report

and the growing popularity of Linux. After dropping more than 4 points last night, Novell tonight lowered its head 7/256 to 10 5/821/32 on 220,000 Island shares.

Some people like to talk back to their television sets. It turns out that these people, once considered odd, were just technology visionaries. Denver-based

High Speed Access

(HSAC) - Get Report

announced plans to deploy telephone service over selected cable TV networks.

Lucent

(LU)

will provide $100 million dollars worth of software and network equipment, so American consumers can grow more dependant on their cable service. The Colorado company topped this evening's Island top 10 and belted out a gain of 1 9/32 to 11 17/32on 300,000 shares.

Perpetuating the tradition of enigmatic moves,

Rambus

(RMBS) - Get Report

fell about 5% today, after announcing this morning that

Sitera

and

Kingston Technology

would use the chipmaker's interface technology in its Sitera Prism IQ200 Network Processor. Rambus rambled 4 1/4 higher to 204 on 23,000 shares on Island. Other than bargain hunting, there is no good reason for the lift. After closer investigation, the message board rumor mill revealed that Rambus is currently developing new sour-cream-and-onion-flavored chip technology to target an increasingly younger generation of computer users.

Diversinet

(DVNT)

is a leading provider of security software for wireless e-commerce products.

Aether Systems

(AETH)

is a leading maker of wireless e-commerce products. This deal may be the most intuitive partnership to hit corporate America since

Hershey's

(HSY) - Get Report

reaped the synergy of chocolate and peanut butter.

The brainchild born of this technological collaboration will be called Aether Intelligent Messaging, or AIM for short. People love babies. They sent the Toronto-based company up 2 to 12 on 50,000 shares on Island.

Chiron

(CHIR) - Get Report

revealed shiny first-quarter earnings, which beat Wall Street estimates by 30%. The California firm owes the revenue boost to its meningitis vaccine, Menjugate, which posted surprisingly strong sales despite its unfortunate name.

Chiron launched Menjugate in the land of mad cows and medieval skin-eating diseases. The vaccine proved almost as popular as beer in the U.K., where it rang up sales of $60 million. Britain's

National Health Service

awarded Chiron a $100 million contract to supply the vaccine this year. Chiron stock jumped 3 3/4 to 38 1/4 to 39,000 shares on Island.

E and B were the letters of the evening. E-commerce and B2B stocks were rocking the house.

VerticalNet

(VERT)

, known as Vert to late-night lurkers, was having a bit too much late-night fun, boogying up 3 1/8 to 54 7/8 on 16,000 Island shares.

Vert owns and operates 55 industry-specific Web sites designed as online business-to-business communities, known as vertical trade communities. It popped on the scene two hours into the session and exploded for no particular reason.

Commerce One

(CMRC)

, a provider of business-to-business electronic commerce solutions that link buyers and sellers in trading communities over the Internet, bounced as well, up 1 5/8 to 57 3/16 on 20,000 Island shares.

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, owned by Datek Online, offers trading, mainly in Nasdaq-listed stocks, from 7 a.m. to 8 p.m. EDT.

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.