Friday's Tech Winners & Losers

Updated from 2:17 p.m. EDT

Tech companies moved slightly lower Friday as investors in the sector digested their gains in the wake of the prior session's rally.

Shares of Macrovision(MVSN Quote) tumbled 12% after the software company slashed its second-quarter guidance. The company now sees adjusted earnings of 19 cents to 22 cents a share on revenue of $57 million to $59 million.

Previously, the company forecast adjusted earnings of 24 cents to 27 cents a share on revenue of $65 million to $68 million. Analysts polled by Thomson Financial had estimated earnings of 27 cents on revenue of $67.2 million. Shares closed down $3.56 to $26.22.

Elsewhere, Nextest Systems(NEXT Quote) fell 5.6% after the semiconductor-equipment maker cut its fourth-quarter guidance. The company now sees a loss of 5 cents to 8 cents a share on revenue of $13 million to $14 million.

Originally, the company said that it would earn 8 cents to 13 cents a share on revenue of $20 million to $24 million. Analysts were looking for a profit of 11 cents and revenue of $22.9 million.

"The lower revenue level resulted primarily from lower-than-expected equipment orders from the company's key customers in the NAND flash semiconductor market," Nextest said. Shares closed down 75 cents to $12.55.