Thursday's Tech Winners & Losers

Updated from 12:28 p.m. EDT

Technology stocks moved modestly higher Thursday, but some of the biggest movers were hit hard by earnings warnings and weaker-than-expected reports.

Avici Systems(AVCI Quote) plunged 28.7% after the network-equipment company said that it would halt its core router development and focus on a new product initiative. The company said it would turn its focus to its new Soapstone Networks product and make its final shipments of router products by the end of the year.

"While we were successful in bringing the company to profitability in 2006 and continued to do so in the first quarter of 2007, we recognize that the routing market is under tremendous pressure from alternative technologies, such as Ethernet switching, and we do not believe our focus on core routers and our position as the No. 3 supplier in this market to be a sustainable growth business for the company." Avici said. ...