Today's Tech Winners and Losers

Shares of Baidu.com(BIDU) were among technology's winners Wednesday, jumping 28% after the Internet search company posted better-than-expected first-quarter results and forecast second-quarter revenue above expectations.

The Chinese company earned $4.4 million, or 13 cents per American depository share, on revenue of $16.9 million. Excluding items, the company earned $5.4 million, or 16 cents an ADS. Analysts polled by Thomson First Call expected earnings of 12 cents a share and revenue of $15.1 million.

Looking ahead, Baidu sees second-quarter revenue of $23 million to $24 million, well above the $17.6 million that analysts are projecting. Shares were trading up $17.01 to $78.39.

Transmeta(TMTA) plunged 31% after the maker of microprocessors posted a narrower first-quarter loss but warned that full-year results would be lower than expected. The company also announced the resignation of its chief financial officer. Transmeta reported a first-quarter loss of $1.6 million, or 1 cent a share, on revenue of $19.5 million. During the year-earlier quarter, the company posted a loss of $21.1 million, or 11 cents a share, on revenue of $6.9 million.

For the full year, the company sees a loss of $16 million to $26 million, or 8 cents to 13 cents a share. It now sees revenue of $48 million to $58 million. The company's earnings guidance includes stock-based compensation costs of $6 million and noncash charges of $7 million related to patent amortization. In February, Transmeta forecast a loss of $12 million to $18 million, or 6 cents to 9 cents a share, on revenue of $60 million to $72 million. "Earlier this quarter, we entered into new project agreements with Sony for their new fiscal year, but at a lower revenue level than anticipated," the company said.

Separately, Transmeta announced the resignation of CFO Mark Kent. Kent's resignation will be effective once the company files its first-quarter report with the Securities and Exchange Commission. Kent, meanwhile, plans to remain as a consultant for a three-month period while the company searches for a new CFO. Shares were down 72 cents to $1.58.