Thursday's Tech Winners & Losers

Shares of Phoenix Technologies(PTEC Quote) were among technology's losers Thursday, plunging 31% after the software company slashed its third-quarter revenue guidance.

For the period ending June 30, the company now anticipates revenue of $10 million to $12 million, well below its previous guidance of $24.5 million to $26.5 million. Analysts polled by Thomson First Call project revenue of $24.6 million. The company attributed the dour outlook to a host of issues, including slower-than-expected core system software sales, which was related to Microsoft's(MSFT Quote) delayed launch of Vista. The company also said that product issues hurt its third-quarter results. For the full year, the company sees revenue of $68 million to $70 million, well below the $94 million that analysts project.

Phoenix also said it is undergoing a restructuring, which is expected reduce expenses to $19.5 million to $20 million during the fourth quarter. Third-quarter expenses, meanwhile, are expected to be $22.5 million, flat compared to second-quarter expenses. Shares were trading down $1.81 to $4.02. ...