Tuesday's Tech Winners & Losers

Shares of Innovex(INVX) were among the losers of technology stocks Tuesday, slumping 16% after the electronics-device maker cut its third-quarter revenue guidance.

The company now sees revenue of $38 million to $40 million for the quarter ending June 30, down from an earlier view of $44 million to $46 million. The company also said that margins would be hurt by the lower revenue levels. Analysts polled by Thomson First Call project revenue of $45.2 million. "The company believes merger-related product line and inventory rationalization may be impacting short-term demand," Innovex said. Shares were trading down 85 cents to $4.23.

ADE(ADEX) soared 24% after KLA-Tencor(KLAC) amended the terms of its merger agreement with the company. ADE shareholders will now receive $32.50 a share in cash, instead of receiving 0.64 shares of KLA for each share of ADE they hold. Since announcing the merger deal in February, shares of KLA had fallen about 21%. The cash offer represents a 25% premium based on ADE's closing price of $25.95 on Friday. Shares of ADE recently were up $6.27 to $32.22.

Shares of CA(CA) fell 4% after the company delayed the release of its final fourth-quarter results and cut its earnings estimate for the period. The company, which was formerly known as Computer Associates, previewed a fourth-quarter loss of 7 cents a share, below its previous forecast calling for results ranging from break-even to a profit of 2 cents a share. On a pro forma basis, the company now sees operating earnings for the March quarter at the low end of its previous guidance of 14 cents to 16 cents a share. The company blamed the weaker-than-anticipated results on a higher-than-expected sales-commission expense. CA expects revenue of about $947 million, in line with its guidance of $940 million to $950 million. Analysts project earnings of 21 cents a share on revenue of $970.1 million.