Shares of

California Micro Devices

(CAMD)

were among technology's losers Friday, dropping 26% after the maker of analog semiconductor products cut its first-quarter earnings and revenue guidance.

For the period ending June 30, the company now sees a loss of 12 cents to 13 cents a share. Including its Arques Technology product line, but excluding acquisition costs and stock-based compensation costs, the company expects earnings of 2 cents to 3 cents a share. California Micro projects revenue of $15 million to $16 million, down $2 million from its earlier forecast. Analysts polled by Thomson First Call had forecast earnings of 4 cents a share and revenue of $17.7 million.

"With the exception of our packaged EMI filter ASIPs and low capacitance ESD devices, we have seen a broad based decline in demand for our products in the last month," the company said. "We believe this is due in part to softer market demand and in part to the competitive inroads by ceramic filters and packaged ASIPs at certain mobile handset customers." Shares were trading down $1.53 to $4.33.

Oracle

(ORCL) - Get Report

rose 3% after the business-software company previewed better-than-expected fourth-quarter earnings. When the company reports earnings next week, it expects to post a profit of 24 cents a share, ahead of its previous guidance of 21 cents to 23 cents a share. Excluding certain items, Oracle sees earnings of 29 cents a share, up from its previous forecast of 26 cents to 28 cents a share, and above analysts' estimates of 27 cents a share. Pro forma revenue, meanwhile, increased 22% to $4.94 billion, better than the 10% to 14% increase that Oracle had forecast. Analysts project revenue of $4.55 billion. Oracle plans to release its full results on June 22. Shares were trading up 46 cents to $14.16.

Shares of

OmniVision Technologies

(OVTI)

sold off Friday, even though the company posted better-than-expected fourth-quarter results and offered solid first-quarter guidance. For the period ended April 30, the company earned $22.5 million, or 39 cents a share, on revenue of $131.8 million. Analysts expected earnings of 38 cents a share on revenue of $124.9 million. A year earlier, the company earned $17.7 million, or 30 cents a share, on revenue of $103 million.

Looking ahead, OmniVision sees first-earnings of 38 cents to 43 cents a share, excluding stock-based compensation costs. Analysts project earnings of 38 cents a share. The company targets revenue of $135 million to $145 million, above Wall Street's projection of $130.2 million. Shares were trading at $23.39, down $3.42.

Trident Microsystems

(TRID)

fell 3% after the provider of chips for digital TVs said that it received a subpoena earlier this week from the U.S. Attorney's Offices for the Southern District of New York related to past stock-option grant practices. The company said that it would cooperate with any government or regulatory probes into the matter. The

Securities and Exchange Commission

began an informal probe the company's option grants during the fall of 2004. Shares were trading down 68 cents to $20.01.

Shares of

Adobe Systems

(ADBE) - Get Report

rose 2% after the company posted second-quarter earnings that beat analysts' target by a penny. For the period ended June 2, the company earned $123.1 million, or 20 cents a share, on revenue of $635.5 million. Excluding one-time items, stock-based compensation and other costs, the company posted earnings of $189.4 million, or 31 cents a share. Analysts expected earnings of 30 cents a share, before items, on revenue of $644.9 million. A year earlier, Adobe earned $149.8 million, or 29 cents a share, on revenue of $496 million. Excluding items, the company reported earnings of $142.9 million, or 28 cents a share, for the year-earlier quarter.

For the fiscal third quarter, Adobe sees a profit of 25 cents to 27 cents a share, excluding items. The company expects revenue of $580 million to $610 million. The forecast was short of analysts' projection for earnings of 29 cents a share and revenue of $629.1 million. Still, shares were up 58 cents to $29.54.

Other technology movers included

Microsoft

(MSFT) - Get Report

, down 12 cents to $21.95;

Intel

(INTC) - Get Report

, up 18 cents to $18.30;

Sun Microsystems

(SUNW) - Get Report

, down 9 cents to $4.26;

Cisco Systems

(CSCO) - Get Report

, down 23 cents to $19.99;

Level 3 Communications

(LVLT)

, down 3 cents to $4.36;

Ciena

(CIEN) - Get Report

, down 11 cents to $4.14;

Applied Materials

(AMAT) - Get Report

, down 44 cents to $16.39;

Apple Computer

(AAPL) - Get Report

, down $1.44 to $57.94;

JDSU

(JDSU)

, down 2 cents to $2.47; and

Lucent Technologies

(LU)

, down 1 cent to $2.40.