Updated from 11:34 a.m. EDT

Shares of

Radware

(RDWR) - Get Report

were among the

Nasdaq's

losers Friday, falling 15.3% after the company cut its second-quarter guidance well below Wall Street's expectations.

The company now expects earnings of 3 cents to 5 cents a share on sales of $17.5 million. Previously, the company said it would earn 23 cents to 24 cents a share on sales of $21 million. Analysts polled by Thomson First Call had been expecting earnings of 23 cents a share on sales of $21 million. "We are very disappointed with our results for the second quarter," the company said. "We experienced significant and continuous delays in the closing of projects, especially during the month of June." Shares traded down $2.76 to $15.32.

Pixar

(PIXR)

fell 14% after the company cut its second-quarter earnings guidance. The company now expects earnings of about 10 cents a share, down from previous guidance of 15 cents a share. Pixar said the difference in forecasts equates to about $6 million in earnings. Analysts had been expecting earnings of 19 cents a share. Pixar attributed the earnings cut to an increase in its reserves for returns of

The Incredibles

. "Based on the most recent sell-through information, we have opted to be more cautious with respect to our second-quarter home video reserves," the company said. Shares traded down $6.99 to $43.06.

Shares of

Pepsi

(PEP) - Get Report

fell 0.8% Friday after UBS cuts its rating on the stock to neutral from buy. The firm cut its rating because of competition from

Coca-Cola

(KO) - Get Report

and higher energy costs. As a result of its cautious outlook for the beverage company, UBS cut its earnings forecast for 2005 by 3 cents a share and its outlook for 2006 by 5 cents a share. The firm also lowered its price target on the stock to $61, down from $66.50. Shares traded down 42 cents to $53.51.

Quantum Fuel Systems

(QTWW)

fell 7% after the company posted a wider-than-expected fourth-quarter loss. The fuel systems company lost $4.4 million, or 10 cents a share, on sales of $37.6 million. Analysts were expecting a loss of 7 cents a share on sales of $34 million. A year ago the company lost $2 million, or 6 cents a share, on sales of $9.1 million. Shares traded down 35 cents to $4.65.

Shares of

Tipperary

(TPY)

rose 17% after the independent energy company agreed to be acquired by Australia-based

Santos

for $7.41 a share in cash. The total value of the deal, including the assumption of debt, is about $466 million. The buyout price represents a premium of 19% based on Thursday's closing price of $6.25. Shares traded up $1.06 to $7.31.

NYSE

volume leaders included

MBNA

(KRB)

, down 39 cents to $25.77;

Pfizer

(PFE) - Get Report

, down 48 cents to $27.10;

Bank of America

(BAC) - Get Report

, down 63 cents to $44.98;

General Electric

(GE) - Get Report

, up 9 cents to $34.74;

Time Warner

(TWX)

, down 12 cents to $16.59;

Lucent Technologies

(LU)

, up 3 cents to $2.94; and

Guidant

(GDT)

, down $1.57 to $65.73.

Nasdaq volume leaders included

Microsoft

(MSFT) - Get Report

, down 13 cents to $24.71;

Sun Microsystems

(SUNW) - Get Report

, down 8 cents to $3.65;

Oracle

(ORCL) - Get Report

, up 9 cents to $13.29;

Cisco Systems

(CSCO) - Get Report

, down 9 cents to $18.99;

Sirius Satellite Radio

(SIRI) - Get Report

, up 7 cents to $6.55; and

Intel

(INTC) - Get Report

, up 19 cents to $26.21.