Updated from 1:26 p.m. EDT with new stock prices

Tech stocks were sliding Friday, as solid quarterly results from

Google

(GOOG) - Get Report

failed to rally the sector.

The Internet search giant's shares gained just 0.80% after it

handily beat Wall Street's estimates. The company earned $3.91 a share on a pro forma basis, vs. Wall Street's expectation of $3.78 a share. It posted net revenue of $3.01 billion, compared to analysts' expectation of $2.94 billion. Shares gained $5.09 to $644.71.

SanDisk

(SNDK)

shares, however, were shedding 15.11%, after the flash memory provider posted a

smaller third-quarter profit because of an acquisition. The company said net income fell to $84.6 million, or 36 cents a share, from $103 million, or 51 cents a share, a year earlier. Excluding items, the company earned 54 cents a share, which handily beat analysts' average estimate of 32 cents.

Revenue also beat estimates, rising 38% to $1 billion. Shares, however, were falling $7.60 to $42.71.

Google and SanDisk are components of the Nasdaq 100, which was plummeting 56.44 points to 2,131.08.

Chipmakers

Advanced Micro Devices

(AMD) - Get Report

and

Cree

(CREE) - Get Report

TST Recommends

also were falling, despite beating the Street's quarterly forecasts.

Advanced Micro was shedding 5.15%, after

swinging to a $396 million third-quarter loss, or 71 cents a share. Those results, however, include $120 million, or 22 cents a share in charges. Excluding those, the stock beat analysts' estimates of a loss of 62 cents a share. Advanced Micro was still lower by 75 cents to $13.80.

Cree reported fiscal first-quarter profits of $12.7 million, or 15 cents a share, vs. $13.3 million, or 17 cents a share in the year-ago period. Excluding items, Cree said it earned 10 cents a share, which beat analysts' forecast of 8 cents a share. Still, shares were sliding 93 cents, or 3.36%, to $26.71.

Chinese solar cell component maker

LDK Solar

(LDK)

was falling 13.92%, after the

Wall Street Journal

reported on Friday that a recording of a conference call in September showed several officials expressed concerns about the quality of the company's inventory of silicon feedstock. A former employee has accused the company of overstating its inventory of usable silicon, which the company has denied. Shares were sinking $5.78 to $35.73.

On the positive side,

CyberSource

(CYBS)

soared 18.35% after the business software maker beat third-quarter expectations. Excluding items, the company reported income of $3.5 million, or 9 cents a share, vs. $2.2 million, or 6 cents a share in the year ago period. The company's revenue grew 53% to $26.5 million.

Reuters

expected earnings of 6 cents a share on revenue of $23.8 million. Needham upgraded the stock to buy from hold. Shares were gaining $2.31 to $14.90.

Another business software maker,

Informatica

(INFA)

, saw shares jump 6.22% after beating third-quarter forecasts. Excluding items, the company posted earnings of $18.8 million, or 19 cents a share, vs. $14.8 million, or 16 cents a share in the year-ago period. The results beat estimates by 2 cents. Shares were gaining 98 cents to $16.74.