Friday's Tech Winners & Losers

Shares of Palm(PALM) were among technology's losers Friday, sliding 12% after the maker of handheld computer devices posted solid fourth-quarter results but gave a weaker-than-expected projection for the first quarter.

For the three months ended May 31, the company earned $27.2 million, or 25 cents a share, on revenue of $403.1 million. Excluding items, the company earned $30.6 million, or 29 cents a share. Analysts polled by Thomson First Call expected earnings of 23 cents a share, before items, on revenue of $401.7 million. During the year-earlier period, Palm earned $17.7 million, or 17 cents a share, on revenue of $335.8 million. Excluding items, year-earlier earnings were $19.2 million, or 19 cents a share.

Palm sees first-quarter adjusted earnings of 18 cents to 19 cents a share, below analysts' forecast of 22 cents. The company projects revenue of $380 million to $385 million, compared with analysts' projection of $413.4 million. Shares were trading down $2.10 to $16.56.

Saba Software(SABA) plunged 23% as investors were disappointed with the software company's fourth-quarter results and first-quarter guidance. For the period ended May 31, the company reported a loss of $3.5 million, or 12 cents a share, on revenue of $23.1 million. The results included one-time items that lowered earnings by 16 cents a share. A single analyst expected the company to earn 7 cents a share on revenue of $23.5 million. During the year-earlier period, the company recorded a loss of $572,000, or 3 cents a share, on revenue of $12 million.

Looking ahead, Saba sees a first-quarter loss of 11 cents to 14 cents a share, including one-time items that will cut earnings per share by 16 cents. The company anticipates revenue of $22 million to $23 million. The single analyst forecast calls for earnings of 9 cents a share, with revenue of $22.1 million. Shares were trading down $1.60 to $5.35.