Today's Tech Winners and Losers

Shares of i2 Technologies(ITWO Quote) were among technology's losers Thursday, slumping 22% after the software company's first-quarter results missed expectations.

The company posted earnings from continuing operations of $2.4 million, or 7 cents a share, on revenue of $64 million. Excluding certain items, the company earned 21 cents a share. Analysts polled by Thomson First Call expected earnings of 23 cents a share and revenue of $68.8 million. During the year-earlier quarter, the company reported a loss of $24.5 million, or $1.36 a share, on revenue of $81.9 million.

Looking ahead, i2 continues to project 2006 earnings of $1 to $1.20 a share. The company now expects operating revenue, though, to be lower than in 2005. Previously, the company projected that operating revenue would be equal to or slightly above 2005 results. Analysts forecast 2006 earnings of $1.17 a share. Shares were trading down $3.91 to $14.07.

JDSU(JDSU Quote) fell 6% after the maker of telecom equipment posted in-line third-quarter results but issued a tepid fourth-quarter sales guidance. The company reported a profit of $3.7 million, or less than a penny a share, on revenue of $314.9 million. Excluding items, the company posted a loss of $2.8 million, or less than a penny a share, on revenue of $315.5 million. Analysts expected break-even earnings and revenue of $313.1 million. During the year-earlier quarter, the company recorded a loss of $38.6 million, or 3 cents a share, on revenue of $166.3 million. Excluding items, the year-ago loss was $23.5 million, or 2 cents a share.

For the fourth quarter ending in June, JDSU sees revenue of $302 million to $322 million. Analysts have an average estimate for revenue of $316.5 million, above the midpoint of the company's guidance. Shares were down 22 cents to $3.42. 6

Shares of Applied Films(AFCO Quote) soared 22% after the supplier of thin-film deposition equipment agreed to be acquired by Applied Materials(AMAT Quote) for about $464 million. Applied Materials will pay $28.50 a share, a 24% premium over Applied Firms' Wednesday closing price of $22.97. "The acquisition of Applied Films expands our flat panel business to offer color filter products, and opens the fast-growing solar market for us," Applied Materials said. The acquisition is expected to close during Applied Materials' fiscal third quarter, which ends in July.