Updated from 4:56 p.m. EST

Applied Materials ( AMAT) was bouncing around the flatline in extra-session Instinet trading Tuesday after the chip equipment maker posted quarterly earnings that came in ahead of analysts' expectations.

The stock, the volume leader after the close, recently traded up 0.2% to $44.81. In the first part of the late session, the stock was losing ground. KLA-Tencor ( KLAC), another chip capital gear outfit, was lower by 1.2% to $56.70.

In the first 45 minutes of late trading, around 2.5 million shares changed hands among the top-20 volume leaders. Applied Materials accounted for about 20% of that volume.

Overture Services ( OVER) was up 1.6% to $28.10 after the company topped the consensus estimate. Earlier in the day, Overture said it expanded an agreement with MSN. In addition, Goldman Sachs upgraded the company's stock. During regular trading, Overture gained 27%.

Network Appliance ( NTAP) was trading higher by 1.5% to $16.70 on its earnings news. The company matched expectations for the third quarter and said that fourth-quarter earnings will be flat with the recently completed quarter.

Widely held technology issues were, as usual, active in late trading. Intel ( INTC) was down 0.4% to $32.84, and the Nasdaq 100 Unit Trust ( QQQ) was inching up 0.1% at $36.35. Microsoft ( MSFT) was off 0.3% to $60.30, and Broadcom ( BRCM) was losing 0.6% at $39.60.

Elsewhere, Cisco ( CSCO) was off 0.5%, Oracle ( ORCL) was down 0.1%, and Sun ( SUNW) was losing 0.2%.

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