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Shares of


( COGN) were among technology's winners Friday, jumping 8% after the software company posted better-than-expected second-quarter earnings and issued a bullish third-quarter guidance.

For the period ended Aug. 31, the company earned $23.8 million, or 26 cents a share, on revenue of $229.9 million. Excluding items, Cognos earned $30 million, or 33 cents a share. Analysts polled by Thomson First Call expected earnings of 27 cents a share, before items, on revenue of $226.9 million. During the year-earlier quarter, Cognos recorded adjusted earnings of $29.9 million, or 32 cents a share, on revenue of $212 million.

Looking ahead, Cognos sees third-quarter adjusted earnings of 40 cents to 44 cents a share on revenue of $237 million to $245 million. Analysts project earnings of 40 cents a share on revenue of $239.4 million. The company also announced a new $200 million stock repurchase plan. Shares were trading up $3.53 to $34.47.

Phoenix Technologies

( PTEC) slid 15% after the software company slashed its fourth-quarter revenue forecast and said it will cut 14% of its workforce. For the period ending Sept. 30, the company now sees revenue of $8 million to $9 million, well below earlier guidance of $12.5 million to $14.5 million. Analysts project revenue of $13 million.

"Historical sales and pricing policies have been successful at building our strong market share position, but may have undermined the perceived value of our contribution to the products in which we are installed," Phoenix said. "We have made the decision to eliminate the use of fully paid up licenses and the associated price discounting and this has impacted our fourth quarter revenues."

Phoenix's restructuring plan will result in a fourth-quarter charge of $2.1 million. The company expects first-quarter operating expenses of about $15.5 million, down 24% from normalized operating expenses of $20.5 million that it recorded during its most recently completed quarter. Shares were trading down 80 cents to $4.40.

Shares of


( COMS) slipped 3% after the network-equipment maker posted first-quarter revenue that fell short of expectations. For the period ended Sept. 1, the company reported a loss of $14 million, or 4 cents a share, including items totaling $15 million, or 4 cents a share. Analysts expected a loss of a penny a share. Revenue totaled $300.1 million, compared with Wall Street's target of $314.9 million. Last year, 3Com posted a first-quarter loss of $42 million, or 11 cents a share, on revenue of $177.6 million. Shares were trading down 13 cents to $4.43.

Advanced Analogic Technologies

( AATI) shares slumped 15% after the chip company sliced its third-quarter earnings and revenue projections. The company now sees a loss of 4 cents to 6 cents a share, compared with an earlier forecast calling for a loss of 1 cent a share to a profit of 1 cent a share. Advanced Analogic lowered its revenue projection to $19 million to $20 million from $22 million to $24 million. Analysts project earnings of 3 cents a share on revenue of $23.4 million. The company blamed the shortfall on lower sales in Korea and Taiwan and softness in the wireless handset business. Shares were off $1.23 to $5.87.

Shares of

Sigma Designs

TheStreet Recommends


fell 5% after the digital media processor company received a delisting notice from Nasdaq and said an internal review found stock-option discrepancies. The company said that it would request a hearing with Nasdaq related to the delisting notice, which stems from the company's delayed filing of its most recent quarterly report.

As for the company's stock option review, which has been ongoing, Sigma said that some of its option grants do not match with recorded dates. The company is in the process of determining the specific impact on its prior financial statements. Sigma plans to file its 10-Q report with the

Securities and Exchange Commission

after it concludes its stock option review. Shares were trading down 76 cents to $14.50.

On the IPO front, shares of


( DIVX) and


(CVLT) - Get CommVault Systems, Inc. Report

jumped on their first day of trading. DivX, a digital-media software maker, offered 9.1 million shares priced at $16 a share. The stock recently was up $1.92, or 12%, to $17.92.

CommVault's offering of 11.1 million shares priced at $14.50 each. Shares of the company, a maker of data-management software, were higher by $1.45, or 10%, to $15.95.

Other technology movers included

Sun Microsystems

(SUNW) - Get Sunworks, Inc. Report

, down 13 cents to $5.08;


(ORCL) - Get Oracle Corporation Report

, down 24 cents to $17.84;


(INTC) - Get Intel Corporation (INTC) Report

, up 4 cents to $19.23;

Cisco Systems

(CSCO) - Get Cisco Systems, Inc. Report

, down 31 cents to $22.70;


(MSFT) - Get Microsoft Corporation (MSFT) Report

, down 17 cents to $26.73;



, up 3 cents to $2.18;

Applied Materials

(AMAT) - Get Applied Materials, Inc. Report

, up 10 cents to $17.04; and

Apple Computer

(AAPL) - Get Apple Inc. (AAPL) Report

, down $1.15 to $73.50.