Tech Stocks in Motion

Shares of Pinnacle Systems(PCLE) were among technology's losers Wednesday, falling 7% after the company lowered its third-quarter sales outlook.

The maker of video-editing tools now expects sales of $64 million to $66 million, down from previous guidance of $74 million to $77 million, which included sales of about $4 million from Team Sports. Without Team Sports, which the company sold in February, its forecast called for sales of $70 million to $73 million. Analysts polled by Thomson First Call are expecting earnings of 2 cents a share on sales of $74.9 million.

Pinnacle said the potential impact of its merger with Avid Technology(AVID) also created uncertainty during the quarter, resulting in slowed orders from Pinnacle's distribution channels. Pinnacle plans to post third-quarter results on April 27. Shares were trading down 39 cents to $5.15.

Despite raising fourth-quarter earnings and sales guidance, Intermix Media(MIX) fell 9% on Wednesday. The e-commerce company now expects to post a slight profit on sales of $23.5 million. Previously, the company expected to post a small loss on sales of $21 million to $22 million. Looking ahead, Intermix forecast break-even first-quarter earnings on sales of $25 million to $26 million. For all of 2006, it expects earnings of $8 million, or 17 cents a share, on sales of between $112 million and $115 million. Even with Wednesday's decline, shares of Intermix are still up more than 30% year to date. Shares were recently trading down 76 cents to $7.49.

Shares of Broadwing(BWNG) rose 27% after the company said that it would make its next convertible notes payment in cash. The company will pay a total of $1.57 million in interest and $32.1 million in principal on the notes, which mature on Feb. 20, 2006. Under the repayment terms, Broadwing has the option to pay its quarterly principal and interest due on the notes in cash or in stock. In August and November 2004, the company made its payment by issuing stock. Looking ahead, Broadwing said that it would determine its payment method for the three remaining payments on a quarter-by-quarter basis, taking into consideration its capital needs and market conditions. Shares were trading up 97 cents to $4.60.