NEW YORK ( TheStreet) – SanDisk (SNDK) plunges by double digits after warning its first-quarter revenue will come in less than expected. Red Hat (RHT) - Get Report surges by double digits after posting a fourth-quarter earnings beat. Accenture (ACN) - Get Report soars after raising its full-year revenue forecast.

SanDisk plummeted 18.5% to close at $66.20.

The flash-memory maker took a hit after lowering its first quarter revenue forecast to $1.3 billion, less than the company's previous guidance of $1.4 billion to $1.45 billion. Analysts were expecting $1.42 billion for the first quarter.

SanDisk attributed the expected shortfall to softer sales of its enterprise products and lower prices. Jack Mohr, director of research for Action Alerts PLUS, said the company has been struggling for awhile, as it lagged its competitors on such products as its next generation NAND flash-memory.

Red Hat soared 10.1% to end the session at $75.36.

The open source software company posted stronger-than-expected fourth-quarter earnings, noting its Red Hat Enterprise Linux continues to show growth while its newer products are gaining traction in the market, a Cantor Fitzgerald analyst said, according to the Financial Times.

During the fourth quarter, Red Hat reported adjusted earnings of 43 cents a share on revenue of $464 million. Analysts were anticipating the company to report earnings of 41 cents a share.

Although Red Hat soundly beat analysts estimates for the fourth quarter, its forecast for the first quarter is below Wall Street's expectations. Red Hat expects to earn 41 cents in the first quarter on revenue between $469 million to $474 million.

Accenture jumped 6.8% to end the session at $94.17.

The technology outsourcing company soared after beating analysts second-quarter estimates and raising its full-year revenue forecast for a second time this fiscal year. 

Accenture reported earnings of $1.08 per share on revenue of $7.49 billion in the second quarter. Wall Street had expected the company to post earnings of $1.07 per share on revenue of $7.35 billion. Additionally, Accenture expects to generate between $7.35 billion to $7.6 billion in revenue for the current quarter, while analysts anticipate $7.62 billion.

Also, for the full year, Accenture now expects to report revenue growth of 8% to 10%, compared with its previous forecast of 5% to 8%. Last year, Accenture ha originally forecast growth of 4% to 7%.

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.