The Night Watch: Cisco Mounts Minor Comeback

Traders had plenty of news to digest after the close Thursday, and several widely held tech shares were making sharp moves in the extra session.

Amgen ( AMGN) was among the most active stocks, falling 2.8% to $55.99 after the company disclosed plans to raise $2.5 billion through the sale of convertible debt.

BEA Systems ( BEAS) was dropping 4.2% to $15.15 after the company posted earnings before items that met analysts' expectations. Revenue and earnings for the latest fourth quarter fell from the same period a year earlier.

Cisco ( CSCO) was climbing 1.2% to $15.29. In regular trading, the stock lost 9.3% after the company's CEO, John Chambers, told Lehman Brothers analysts that visibility was tough and that the strength seen in the past few months has now softened.

Xilinx ( XLNX) was one of the late session's biggest winners, advancing 5% to $35.71 after the company raised its revenue guidance for the fourth quarter. The outlook was good enough to lift Altera ( ALTR) 4.7% to $20.75. The stocks of both companies, which make programmable logic devices, were lower in regular action.

Ciena ( CIEN) was dropping another 0.7%, Intel ( INTC) was up 0.6%, and Microsoft ( MSFT) was inching up 0.2%. Oracle ( ORCL) was off 0.1%. Sun Micro ( SUNW) was tacking on 0.2%. Nextel ( NXTL) was unchanged.

The Nasdaq 100 Unit Trust ( QQQ) was up 0.4% to $33.63, and the S&P 500 Depositary Receipts ( SPY) were ahead by 0.2% to $108.50.

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