Thursday's Tech Winners & Losers

Garmin(GRMN Quote) shares continued to slide Thursday as a digital mapmaker warmed to its hostile takeover bid, helping drag on the tech sector.

Garmin shares were sinking 7%, as Merrill Lynch downgraded the stock to sell on fears it would have to up its $3.3 billion bid for Tele Atlas. The Dutch digital mapmaker said its board had reviewed the GPS device maker's hostile, $3.3 billion bid and found it superior to Garmin rival Tom Tom's earlier offer, according to MarketWatch. Tele Atlas is giving Tom Tom five days to raise its offer before accepting Garmin's offer. Garmin shares, which lost nearly 11% Wednesday after the bid became public, were sinking another $7.52 to $99.88.

Electronic Arts(ERTS Quote) was losing 3.2% in advance of its third-quarter earnings report, expected after Thursday's closing bell. Shares were shedding $1.93 to $59.19.

Sirius Satellite Radio(SIRI Quote) and XM Satellite Radio(XMSR Quote) both remained volatile ahead of separate, scheduled Nov. 13 shareholder votes on a proposed merger. Federal regulators are still reviewing the proposed deal. Sirius shares were losing 4.5% to $3.21, while XM shares were off 3.4% to $12.83.

Electronic Arts, Garmin, Sirius and XM are components of the Nasdaq 100, which was losing 16.88 points to 2222.10.

Smith Micro Software(SMSI Quote) was plummeting 28.4%, after the wireless communications software maker reported in-line third-quarter results. The company posted non-GAAP earnings of $6.7 million, or 21 cents a share, vs. $4.3 million, or 21 cents a share, in the year-ago period. Revenue was up 38% to $20.4 million. Analysts polled by Thomson Financial expected 21 cents a share on revenue of $20.1 million. Shares were slipping $4.38 to $11.03.

On the positive side, Plexus(PLXS Quote) was soaring 22.7% after the printed circuit board maker beat fiscal fourth-quarter estimates and guided above expectations for the first quarter. The company posted non-GAAP earnings of $25.6 million, or 55 cents a diluted share, vs. $25.5 million, or 54 cents a share a year ago. Revenue rose to $425.7 million from $396.9 million. Analysts polled by Thomson Financial were expecting earnings of 48 cents a share on revenue of $435.1 million.

For the first quarter, Plexus sees revenue of between $440 million and $460 million and adjusted earnings of between 61 cents and 66 cents a share. Analysts were expecting a profit of 42 cents a share on revenue of $420.9 million. The stock jumped $5.85 to $31.65.

TTM Technologies(TTMI Quote) were adding 11.1% after the printed circuit-board maker posted a strong third-quarter profit and an in-line fourth-quarter outlook. The company reported a profit of $8.2 million, or 19 cents a share, on net sales of $163.1 million, vs. analysts' prediction of 17 cents a share on revenue of $164.7 million.

For the fourth quarter, the company sees revenue of $164 million to $172 million and earnings of 18 cents to 23 cents a diluted share. Analysts forecast earnings of 21 cents a share on revenue of $171.1 million. Shares were adding $1.42 to $14.25.