Tech Stocks in Motion

Updated from 2:28 p.m. EDT

Shares of IDX Systems(IDXC) were among technology's losers Wednesday, falling 3.3% after the company backed its 2005 financial guidance but cut its 2006 earnings and sales guidance.

The software company continues to expect 2005 earnings of $1.25 to $1.31 a share on sales of $610 million to $630 million. Analysts polled by Thomson First Call are expecting earnings of $1.30 a share on sales of $620.3 million.

However, for 2006 the company now expects earnings of $1.50 to $1.60 a share, down from previous guidance of $1.65 to $1.75 a share. Sales are now expected to be between $670 million and $690 million, down from earlier guidance of $700 million to $720 million. Analysts had been expecting earnings of $1.68 a share on sales of $713.7 million. Shares traded down $1.05 to $30.85.

Semtech(SMTC) fell 0.6% after the company posted first-quarter earnings that matched expectations but forecast second-quarter earnings that were slightly below forecasts.

The semiconductor maker earned $10.8 million, or 14 cents a share, on sales of $56.2 million. Analysts were expecting earnings of 14 cents a share on sales of $56 million. A year ago, the company earned $14.8 million, or 19 cents a share, on sales of $61.9 million.

Looking ahead, Semtech forecast second-quarter earnings of 14 cents a share on sales that are expected to be flat with first-quarter results. Analysts had been expecting earnings of 15 cents a share on sales of $57.6 million. Shares traded down 10 cents to $18.14.

Shares of Navarre(NAVR) fell 10.8% after the software company said that it would postpone its fourth-quarter and 2005 fiscal year financial results. The company said that the year-end closing process is taking longer than expected because it is still trying to determine the amount and timing of the recognition of deferred compensation expense related to its chief executive's 2001 employment agreement. The company is also reviewing the recognition and classification of certain fiscal 2005 tax issues.

The company, which is moving as quickly as possible to address the situation, said the noncash charges might force it to restate some of its historical financial statements, though the restatements would not have an impact on cash flows. Shares traded down 98 cents to $8.03.