Applied Materials ( AMAT - Get Report) was holding its ground in extended-session Instinet trading after the semiconductor equipment maker disclosed plans to cut 10% of its workforce.

The company's shares were ticking down 0.6% to $44.60 after the regular session ended. Applied, which is taking the action because of the continuing downturn in the semiconductor industry, said the job reductions will cover 1,700 workers. The company will record a restructuring charge, the amount of which wasn't revealed, in the fiscal first quarter, which ends Jan. 27.

Volume was again on the light side. Among the top-20 volume leaders, around 1.5 million shares changed hands in the first 40 minutes of trading on Instinet.

Macromedia ( MACR) was dropping 22.7% to $21 after the company lowered its guidance for the third quarter ending Dec. 31, citing tough economic conditions. Based on preliminary data, the company estimates software revenue for the quarter will come in between $70 million and $75 million. The company also said it doesn't expect to return to profitability by the end of its fiscal year, as previously hoped.

Secure Computing ( SCUR) was the volume leader in extra trading, where it lost 0.5% to $21.90. Microsoft ( MSFT) was inching down 0.1% to $67.86, and Emulex ( EMLX) was up 0.1% to $40.75.

Intel ( INTC - Get Report) was off 0.1% at $34.03, and Cisco ( CSCO) was tacking on 0.2% to $20.54. Oracle ( ORCL) was up 0.1% to $15.11, and the Nasdaq 100 Tracking Stock ( QQQ) was basically unchanged at $41.55.

Verity ( VRTY) was one of the late session's biggest winners, climbing 10.2% to $19.70. After the close, the e-commerce infrastructure software company posted a second-quarter loss of a penny a share, excluding items. Analysts were looking for a loss of 6 cents. Sales for the quarter totaled $22.6 million, up sequentially but down from the same period a year ago. The company also said it was on track to return to profitability in the next quarter.

Genome Therapeutics ( GENE) was dropping 11.2% to $5.70 in the extra session, and Adobe ( ADBE) was losing 2.5% to $31.