Thursday's Tech Winners & Losers

Updated from 1:30 p.m. EDT

Technology stocks were sinking Thursday, as Limelight Networks'(LLNW Quote) gain was Akamai's(AKAM Quote) loss.

Limelight, one of Akamai's competitors in the digital media distribution space, entered into an agreement with Microsoft(MSFT Quote) to deliver online video, music, games, software and social media across the software giant's platforms.

Limelight shares gained 42 cents, or 5%, to $8.90, while Akamai lost $1.06, or 3.3%, to $30.83. Akamai is a component of the Nasdaq 100 Index, which was down 4.89 points to 1931.88.

C-Cor(CCBL Quote) sank 18.6%, after the company said its adjusted first-quarter earnings could fall short of Wall Street's expectations. The company, which provides equipment, software and technical services to the broadband industry, said it expected GAAP first-quarter net sales of between $70 million and $74 million and earnings of between 8 cents and 12 cents per share.

The projections include approximately $650,000 of amortization related to intangible assets, $2.7 million of stock compensation expense and $200,000 of restructuring charges, which the company says would equate to 7 cents per diluted share. Added to the company's GAAP projections, that equates to earnings of 15 cents to 19 cents a share. Analysts expect revenue of $76.3 million and earnings of 19 cents a share for the first quarter. Shares fell $2.63 to $11.51.

Elsewhere, Sirf Technology(SIRF Quote) fell 8.5%, after Banc of America Securities initiated coverage of the chipmaker with a neutral rating. Shares fell $1.66 to $17.77.

On the flip side, Netease.com(NTES Quote) gained 4.7% in a second straight day of gains, after the Chinese online community was upgraded to positive from neutral Wednesday by Susquehanna Financial. Shares gained 72 cents to $16.05.

Superconductor Technologies(SCON Quote) jumped 3.5%, after the chipmaker said it had received a $15 million investment from Hunchun BaoLi Communication.

Hunchun BaoLi paid $1.63 per share, a 5% premium over Superconductor Technologies' average closing price for the 30-day period ending Aug. 17. Hunchun BaoLi pledged to vote all but 2.1 million shares in proportion to Superconductor Technologies' other shareholders in any matters requiring a shareholder vote. Shares gained 9 cents to $2.65.

Xfone(XFN Quote) gained 10.2%, after announcing a $42 million deal to acquire privately held NTS Communications. Xfone, which provides voice, data and video services in the U.S., U.K. and Israel, plans to finance the deal primarily through debt and is talking to potential lenders. Shares jumped 24 cents to $2.60.