Tech Stocks in Motion

Shares of Reynolds & Reynolds(REY) were among technology's losers Thursday, falling 3% after the software maker backed its 2005 financial targets but said that 2006 sales would be flat with 2005 results.

The company continues to expect fourth-quarter earnings of 33 cents to 37 cents a share and full-year earnings to fall between $1.37 and $1.41 a share. Analysts polled by Thomson First Call are expecting fourth-quarter earnings of 36 cents a share and full-year earnings of $1.40 a share.

Looking ahead, Reynolds & Reynolds forecast fiscal 2006 earnings of about $1.50 to $1.60 a share on flat year-over-year sales. Operating margins, meanwhile, are expected to be in the midteens. Analysts are expecting earnings of $1.65 a share. A single analyst is expecting sales of $988.6 million. Shares were recently trading down 89 cents to $27.82.

Endwave(ENWV) fell slightly after the wireless technology company said it would sell more than 3.3 million shares of stock. The company is selling 2 million shares while a selling stockholder is unloading nearly 1.35 million shares. The company has granted underwriters a 30-day option to buy about 500,000 in additional stock to cover over-allotments. Shares were trading down 1 cent to $31.23.

Shares of California Micro Devices(CAMD) traded actively after the company raised its second-quarter earnings and sales guidance. The semiconductor company now expects earnings of 5 cents to 6 cents a share on sales of $16.5 million to $17 million. Previously, the company said that it would earn 4 cents to 5 cents a share on sales of $16 million to $17 million. Analysts had been expecting earnings of 5 cents a share on sales of $16.6 million. During the company's previous quarter, it earned 2 cents a share. A year ago, the company earned 10 cents a share. "We have raised our Q2 revenue and earnings guidance as a result of a stronger than expected demand from our mobile handset customers," the company said. Shares were trading down 4 cents to $8.21.