Tech Stocks in Motion

Shares of Ixia(XXIA) were among technology's losers Friday, plunging 21% after the provider of IP network-testing systems previewed fourth-quarter results that fell below its earlier guidance.

The company expects to post earnings, excluding items, of about 8 cents a share, down from its October forecast of 11 cents to 14 cents a share. Ixia estimates that sales were $37 million to $38 million, worse than its guidance of $40 million to $44 million. Analysts surveyed by Thomson First Call had been expecting earnings of 13 cents a share and sales of $42.2 million.

Ixia said sales were hurt by a $4 million drop from the third quarter in sales to its largest customer. "While fourth-quarter revenues were impacted by this decrease in sales to our largest customer, we believe we continue to maintain market share and will continue to work closely with this customer on the testing and development of next generation networking equipment," Ixia said. The company will post full fourth-quarter results on Feb. 6. Shares recently were trading down $3.20 to $11.73.

Xyratex(XRTX) jumped 12% after the data-storage company posted fourth-quarter results and a first-quarter forecast that exceeded Wall Street expectations. The company earned $13.8 million, or 48 cents a share, on sales of $203.6 million. Excluding items, the company earned $15.5 million, or 54 cents a share. Analysts expected earnings of 49 cents a share, before items, and sales of $196.5 million. In the year-earlier fourth quarter, the company earned $5.4 million, or 19 cents a share, on sales of $116.7 million.

For the first quarter, Xyratex sees earnings, excluding items, of 18 cents to 25 cents a share. Analysts expect earnings of 15 cents a share. The company targets sales of $167 million to $177 million, above Wall Street's projection of $163 million. Shares were trading up $2.10 to $19.70.