Tech Stocks in Motion

Drexler Tech falls on unexpected loss.
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Updated from 12:38 p.m. EDT

Shares of

Drexler Technology

(DRXR)

were among the worst-performing technology stocks Tuesday after the company missed first-quarter earnings and sales estimates.

The data storage company posted a first-quarter loss of 14 cents a share on sales of $8.71 million. Analysts polled by Thomson First Call had expected it to report a profit of 4 cents a share on sales of $8.92 million. The company said that it was "disappointed" by the loss in the quarter and attributed it to a short-term card production problem.

Separately, Drexler announced a 350,000 share repurchase plan, whereby it may buy up to $3 million in common stock. Shares of Drexler Technology traded down $1.55, or 16.6%, to $7.77.

Qwest Communications

(Q)

fell after it reported a wider-than-expected second-quarter loss and weaker-than-expected sales.

Excluding items, the telecom company posted a loss of 16 cents a share on sales of $3.44 billion. Analysts had expected it to report a loss of 13 cents a share on sales of $3.51 billion. A year ago, the company posted a loss of 4 cents a share on sales of $3.6 billion. As part of its cost-cutting plans, Qwest also announced that it has cut 1550 employees from its workforce so far this year. Shares of Qwest Communications traded down 80 cents, or 20.2%, to $3.17.

Shares of

Priceline.com

(PCLN)

fell after the company posted better-than-expected second-quarter earnings and sales but warned that third-quarter results would fall short of expectations.

Excluding items, the online travel company posted earnings of 32 cents a share during the second quarter on sales of $259.4 million. Analysts had expected it to earn 31 cents a share on sales of $258.3 million. Looking ahead, however, the company forecast earnings of 25 cents to 30 cents a share during the third quarter. Analysts were looking for 31 cents a share. Shares of Priceline.com traded down $3.44, or 14.5%, to $20.29.

Macrovision

(MVSN)

rose after it reported stronger-than-expected second-quarter earnings and sales. Excluding items, the software company earned 19 cents a share on sales of $35.7 million. Analysts had expected earnings of 18 cents a share on sales of $35.2 million. Looking ahead, it forecast third-quarter earnings of 18 cents to 19 cents a share, in line with expectations, on sales of $45 million to $47 million, which is higher than the consensus estimate of $38 million. Shares of Macrovision traded up $1.32, or 6.3%, to $22.37.

Shares of

Vishay Intertechnology

(VSH) - Get Report

fell after the company posted weaker-than-expected second-quarter earnings and sales and warned that third-quarter earnings and sales would be sequentially flat vs. the recently completed second quarter. Excluding items, the semiconductor company posted earnings of 23 cents a share in the second quarter on sales of $646.7 million. Analysts had expected it to earn 24 cents a share on sales of $674.5 million. Looking ahead, Vishay said that as a result of third-quarter seasonality it does not expect to see an uptick in earnings and sales until the fourth quarter. Shares of Vishay Intertechnology traded down $2.47, or 15.5%, to $13.45.

Other technology volume leaders included

Intel

(INTC) - Get Report

, down 73 cents to $24.17;

Microsoft

(MSFT) - Get Report

, down 45 cents to $28.07;

Oracle

(ORCL) - Get Report

, down 11 cents to $10.56;

Cisco

(CSCO) - Get Report

, down 50 cents to $20.74;

JDS Uniphase

(JDSU)

, down 15 cents to $3.32; and

Lucent

(LU)

, down 7 cents to $3.