Friday's Tech Winners & Losers

Shares of Cognos(COGN Quote) were among technology's winners Friday, jumping 8% after the software company posted better-than-expected second-quarter earnings and issued a bullish third-quarter guidance.

For the period ended Aug. 31, the company earned $23.8 million, or 26 cents a share, on revenue of $229.9 million. Excluding items, Cognos earned $30 million, or 33 cents a share. Analysts polled by Thomson First Call expected earnings of 27 cents a share, before items, on revenue of $226.9 million. During the year-earlier quarter, Cognos recorded adjusted earnings of $29.9 million, or 32 cents a share, on revenue of $212 million.

Looking ahead, Cognos sees third-quarter adjusted earnings of 40 cents to 44 cents a share on revenue of $237 million to $245 million. Analysts project earnings of 40 cents a share on revenue of $239.4 million. The company also announced a new $200 million stock repurchase plan. Shares were trading up $3.53 to $34.47.

Phoenix Technologies(PTEC Quote) slid 15% after the software company slashed its fourth-quarter revenue forecast and said it will cut 14% of its workforce. For the period ending Sept. 30, the company now sees revenue of $8 million to $9 million, well below earlier guidance of $12.5 million to $14.5 million. Analysts project revenue of $13 million.

"Historical sales and pricing policies have been successful at building our strong market share position, but may have undermined the perceived value of our contribution to the products in which we are installed," Phoenix said. "We have made the decision to eliminate the use of fully paid up licenses and the associated price discounting and this has impacted our fourth quarter revenues."