Tuesday's Tech Winners and Losers

Updated from 2:20 p.m. EDT with new stock prices

Tech stocks were down Tuesday along with the major market indices following mixed earnings reports and gloomy economic data with consumer confidence at its lowest point in five years.

Telecom company Rogers Communications(RCI Quote) gained $1.67, or 4%, to $43.98 after it declared strong quarterly results and said it has sealed the deal with Apple(AAPL Quote) to bring the iPhone to Canada. Rogers also declared a quarterly dividend of 25 cents a share. Shares of Apple were up $2.81, or 1.63%, to $175.05.

Shares of Corning(GLW Quote) rose 85 cents, or 3.3%, to $26.53 after the company reported strong first-quarter results and guided higher than Street expectations.

Corning cited the rising demand for glass used in flat-screen TVs and laptop computers. Net income in the first quarter rose to $1.03 billion, or 64 cents a share, from $327 million, or 20 cents a share, a year ago. Excluding items, it reported EPS of 44 cents, beating analysts' expectations by 2 cents. Sales rose 24% to $1.62 billion.

Metavante(MV Quote), a banking and payments technology company, gained $2.40, or 12.1%, to $22.27 following the company's results.

Metavante reported EPS of 35 cents in the first quarter that was 3 cents better than analysts' expectations. Sales rose to $424.6 million vs. $410.28 million a year ago. The company said it expects EPS for fiscal 2008 in the range of $1.36 to 1.41. Analysts are expecting earnings of $1.34 a share.

Microchip Technology(MCHP Quote) traded higher $1.48, or 4.2%, to $36.88 after it beat Wall Street estimates for the fourth quarter and offered a stronger-than-expected outlook.

Net income for the fourth quarter was $76.6 million, or 40 cents a share, down sharply from the $127.7 million, or 57 cents a share, a year ago. But the results beat the average analyst expectation by 3 cents. Sales rose 0.9% to $260.4 million and came in a little higher than the $257 million expected by analysts.