(Updated from 7:22 p.m. EDT)

How much would you pay for a Quokka?

General Electric's

(GE) - Get Report

NBC

is willing to pay up to $141 million. Those are some expensive vowels, even for

Wheel of Fortune

host

Pat Sajak

.

Online sports network

Quokka Sports

(QKKA)

catapulted 40% tonight on news that NBC has a warrant to buy up to 10 million shares at prices ranging from $8.89 to $20 a share over the next three and a half years. Under the agreement, NBC could also appoint a member to Quokka's board.

The two companies have been working together on the

NBCOlympics.com

Web site and said they plan to collaborate on other Internet productions in the future, reported

Reuters

. QKKA rose 2.74 to 9.49 on 210,000

Island

shares.

The word of the night is rock.

Often, in the rough-and-tumble world of markets, stocks tend to rise like rock stars by day yet fall like rocks at night. This was the case with two of today's top Nasdaq percentage gainers,

Evoke Communications

(EVOK) - Get Report

and

Crossroads Systems

(CRDS)

.

Nasdaq daylight darling Crossroads was knocked 43 cents, or 4%, lower to 10.56 after exhausting the buying momentum based on news that the storage router firm will be the first to demonstrate server-free backup capabilities using its InfiniBand technology.

Translation: InfiniBand is a next-generation, standards-based switch interconnect technology designed to boost data transfers.

Real translation: This is good. Crossroads makes things go faster. It makes storing stuff like data easier. People like that. In fact, they lifted the stock more than 40% today.

Evoke rallied a further 45% today on top of Monday's 40% after analysts from

Salomon Smith Barney

and

Robertson Stephens

initiated coverage with buy ratings. Today,

Thomas Weisel Partners

copied.

CIBC World Markets

kicked it up a notch by initiating coverage with a strong buy and a price target of 18. Tonight it receded 62 cents, or 6%, to 9.68.

Intuit

(INTU) - Get Report

was up 2.81, or 6%, to 48.87 after reporting a better-than-expected fourth-quarter loss.

But then again, the California-based company should be good with numbers, as it makes personal finance and tax-preparation software. The actual loss was 4 cents a share, beating Wall Street estimates of a 9-cent loss and halving last year's loss of 8 cents. Profits for the year rose 35%. Quarterly sales for the company tend to fluctuate based on tax season.

DSL.net

(DSLN)

was today's Nasdaq superstar, gaining 99% on news that

IBM

(IBM) - Get Report

chose the high-speed Internet access firm to be a bandwidth provider to IBM's small customers. DSL.net's service will become part of IBM's monthly subscription service, WebConnections. It continued to spike after hours, rising 1.28, or 20%, to 7.50.

Yesterday e-business software maker

MicroStrategy

(MSTR) - Get Report

struck pay dirt on a distribution deal with IBM. These alliances are a result of IBM's push to partner with top software and technology companies. Expect more.

Texas-based

NetSolve

(NTSL)

sprang 1.40 cents, or 17%, to 9.28 tonight after announcing that it might repurchase of up to 2 million shares of its common stock in the open market or through privately transactions.

Stock buybacks are generally good news for a company, as they imply confidence. Remember, investors love companies that love themselves!

Visual Networks

(VNWK)

burst on the late night scene with dramatic midsession losses based on the Internet traffic management company's warning that third-quarter revenues would be half of previous analyst projections of $30 million. The wider losses were blamed on the acquisition of privately held

Avesta Technologies

. The company said it expected a third quarter loss "substantially greater'' than the 3 cents a share loss predicted earlier and added that fourth-quarter results will be roughly the same as third quarter. Visual Networks lost 4.52, or 37%, to 6.76.

Telecommunications services provider

ICG Communications

(ICGX)

popped 31 cents, or 5%, to 6.18 after the postbell announcement that director Carl Vogel will replace J. Shelby Bryan as chairman and chief executive.

General Magic

(GMGC)

is not an illusion! It is a voice application services provider to leading telecommunications and Internet companies. And it wasn't smoke and mirrors that spurred the company's daytime levitation of more than 30%, it was a initiation by

Dain Rauscher Wessels

and affiliation with voice Web application service provider

Nuance

(NUAN) - Get Report

. General Magic has been selected as a member of Nuance's new Voice Web ASP Program. General Magic will use Nuance software to help e-businesses build and run voice-enabled applications that can be used by more than 1.5 billion telephones customers worldwide. GMGC was unchanged tonight at 7.125.

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.