Updated from 1 p.m. EDT

Texas Instruments

(TXN) - Get Report

was active Tuesday after the company narrowed its second-quarter earnings and sales outlook.

Monday night, Texas Instruments said that second-quarter earnings will come in between 24 cents and 26 cents a share. In April, the company predicted that earnings would come in between 23 cents and 26 cents a share. Sales, meanwhile, are now expected to be between $3.17 billion and $3.29 billion, compared to its previous guidance of between $3.09 billion and $3.33 billion. Analysts polled by Thomson First Call are looking for the company to earn 25 cents a share on sales of $3.21 billion. Texas Instruments' updated guidance reflects strong demand across its semiconductor products, as well as seasonal growth in its educational calculators, the company said. Shares of Texas Instruments traded down 19 cents, or 0.7%, to $26.04. About 14.6 million shares traded.

Shares of

Take-Two Interactive

(TTWO) - Get Report

fell after the company reported a wider-than-expected second-quarter loss and lowered its third-quarter outlook. Take-Two reported a loss of 33 cents a share on revenue of $153.4 million. Analysts were expecting the company to post a narrower loss of 15 cents a share on revenue of $170.4 million.

Looking ahead, the company expects to report a third-quarter loss of 28 cents to 33 cents a share on revenue of between $130 million and $140 million. For the full year, it said that it expects to earn between $1.60 and $1.70 a share on revenue of between $1.125 billion and $1.145 billion. Analysts were looking for the company to earn 14 cents a share on revenue of $191 million during the third quarter and earn $1.98 a share on revenue of $1.17 billion for the entire year. Take-Two said its earnings and sales guidance is due to softer-than-expected catalog sales and a shift in its product release schedule.

Shares of Take-Two Interactive traded down $1.62, or 5.4%, to $28.65 on volume of 12.3 million shares.

Viisage

(VISG)

rose more than 6% after it unveiled upgraded versions of its identity solutions products. The three upgraded products, which have already been deployed in the United States and Europe, have demonstrated "significant improvements in accuracy and functionality for criminal ID screening," the company said. Shares of Viisage traded up 58 cents to $9.80 on volume of 5.8 million shares.

In addition to Take-Two and Viisage,

Nasdaq

volume leaders included

Microsoft

(MSFT) - Get Report

, up 17 cents to $26.60;

Cisco

(CSCO) - Get Report

, down 15 cents to $23.74;

Oracle

(ORCL) - Get Report

, up 17 cents to $11.59; and

Intel

(INTC) - Get Report

, up 24 cents to $28.99.

In addition to Texas Instruments,

NYSE

volume leaders included

Lucent

(LU)

, up 4 cents to $3.49;

General Electric

(GE) - Get Report

, down 21 cent to $31.47;

Nortel Networks

(NT)

, down 4 cents to $3.96; and

Motorola

(MOT)

, down 3 cents to $20.38.

Among notable Nasdaq price movers,

ACT Teleconferencing

(ACTT) - Get Report

jumped after it announced a partnership under which it will use

China Netcom's

infrastructure to deliver audio, video and Web-based conferencing services to customers of China Netcom and ACT residing in China. The partnership, ACT says, will allow ACT to offer a price-competitive service on large-scale volumes. Shares of ACT traded up 43 cents, or 17.1%, to $2.95.

Shares of

Comtech Telecommunications

(CMTL) - Get Report

rose after the company reported better-than-expected third-quarter earnings. Comtech earned 31 cents a share on sales of $51.2 million during the third quarter, vs. analysts' earnings expectations of 24 cents a share on sales of $51.3 million. Looking ahead, Comtech said that it expects to post record earnings and sales in 2005. Shares of Comtech Telecommunications traded up $2.52, or 12.7%, to $22.35.

Shares of

Dominion Homes

(DHOM)

slumped after the company lowered its second-quarter sales forecast. The homebuilder said home sales for the second quarter would be significantly lower than the year-ago period, because rising interest rates are affecting its first-time buyer market. Gross unit sales for April and May were off 15%, the company said, and net sales were down 35% vs. the same months a year ago. Shares of Dominion Homes traded down $4.50, or 15.3%, to $24.83.

Insightful

(IFUL)

fell after the company announced the resignations of its CFO and independent auditors, Ernst & Young. Insightful said the two events were unrelated, and that Ernst & Young reported no disagreements with management. Shares of Insightful traded down 56 cents, or 13.3%, to $3.65.

Shares of

Radyne Comstream

(RADN)

fell after the company issued lower-than-expected second-quarter earnings and sales guidance. During the second quarter, the communications equipment concern expects to report earnings of 7 cents to 10 cents a share on revenue of $12 million to $14 million. Analysts were expecting the company to earn 15 cents a share on sales of $15.6 million. Radyne also reiterated its earnings and sales forecast for the full year. It expects to earn 46 cents to 56 cents a share on sales of $65 million to $75 million. Analysts are expecting the company to earn 65 cents a share on sales of $66.4 million. Shares of Radyne traded down 95 cents, or 10.6%, to $8.05.

Over on the Big Board, shares of

Bally Total Fitness

(BFT)

rallied after two investment funds with large holdings in the fitness company said they would submit corporate government proposals at Bally's annual meeting in July. The funds are calling for the separation of the company's CEO and chairman offices; the removal of Bally's shareholder rights plan; the declassification of the board; and the adoption of a mandatory retirement age of 75 years old for directors. The two funds, Liberation Investments LP and Liberation Investments Limited, own a combined 5.81% of Bally's outstanding shares. Shares of Bally's traded up 48 cents, or 10.3%, to $5.14.

Midway Games

(MWY)

rose after Sumner Redstone, controlling shareholder of Midway, hired a financial adviser to explore the possibility of taking Midway Games private. Sumner Redstone, who owns 72.4% of Midway's outstanding shares, cited -- in a

Securities and Exchange Commission

filing -- the hiring in connection with the evaluation of a possible going-private or other transaction in which a person acquires more than 80% of the issued and outstanding equity of the company. Shares of Midway Games traded up 65 cents, or 5.4%, to $12.63.

Shares of

Offshore Logistics

(OLG)

rose after the company reported strong fourth-quarter earnings. After excluding several one-time items, the company earned 50 cents a share on revenue of $153 million. Analysts were expecting Offshore to report earnings of 31 cents a share on revenue of $132.6 million. Shares of Offshore Logistics traded up $1.55, or 6.6%, to $24.90.

Alliance Gaming

(AGI) - Get Report

got ripped after it cut its 2004 and 2005 earnings outlook. For 2004 the company expects to earn 96 cents to $1 vs. previous guidance of $1.04. Alliance cited lower yields, slower-than-expected deployments in Nevada and New York, reduced game orders, and a significant increase in its R&D expenditures at both Bally and SDG. For 2005 it expects to earn $1.20 to $1.30 on sales of $600 million. The company cited increased uncertainty on a number of fronts, including costs associated with emerging jurisdictions, the timing of planned openings, and the competitive operating environment within certain class II jurisdictions. Analysts were expecting the company to earn $1.05 a share during 2004 and $1.43 a share during 2005. Shares of Alliance Gaming traded down $5.24, or 24.5%, to $16.15.

Shares of

Providian Financial

(PVN)

slipped after the company said it settled a 2001 securities class-action lawsuit. Under the terms of the settlement, Providian will make a payment of $65 million -- to be funded by insurance. "This settlement brings to a close the bulk of our remaining outstanding litigation pertaining to these events from the past. We are pleased to put these matters behind us as we continue to focus our attention on building the new Providian," the company said. Shares of Providian traded down 40 cents, or 2.7%, to $14.38.