Updated from 1:52 p.m. EDT

Shares of

Hewlett-Packard

(HPQ) - Get Report

were among the worst-performing technology stocks Thursday after the company posted weaker-than-expected-third-quarter results and

warned that fourth-quarter earnings would fall short of expectations.

Excluding items, the computer giant earned 24 cents a share during the third quarter on sales of $18.9 billion. Analysts polled by Thomson First Call had expected it to earn 31 cents a share on sales of $19.02 billion. Weak results in its storage and server business led to the disappointing results. Looking ahead, Hewlett-Packard expects fourth-quarter earnings of 35 cents to 39 cents a share on sales of $21 billion to $21.5 billion. Analysts are looking for it to earn 43 cents a share on sales of $21.3 billion. Shares of Hewlett-Packard traded down $2.57, or 13.2%, to $16.95.

Sonus Networks

(SONSE)

fell after the

Nasdaq

market denied the company's request for additional time to file its quarterly filing with the

Securities and Exchange Commission

. As a result, the telecom equipment provider will be delisted from the Nasdaq, effective Aug. 13.

After the delisting, the company expects its shares to be traded on the Pink Sheets. Sonus says that it will eventually seek relisting on the Nasdaq market, once it files its 10-Q form with the SEC. "There can be no assurance, however, that Nasdaq will relist the company's stock," Sonus said. Shares of Sonus Networks traded down 38 cents, or 9.3%, to $3.70.

Shares of

Identix

(IDNX)

fell after the company posted weaker-than-expected-fourth-quarter earnings and warned that first-quarter results would fall short of expectations. The biometrics company posted a fourth-quarter loss of 5 cents a share on sales of $16.2 million. Analysts had expected it to report a loss of 4 cents a share on sales of $18.1 million.

Looking ahead, the company expects to post a first-quarter loss of 6 cents to 7 cents a share on sales of $15.5 million to $17 million. Analysts had expected a loss of 3 cents a share on sales of $19.5 million. Shares of Identix traded down 29 cents, or 6.1%, to $4.50.

Bottomline Technologies

(EPAY) - Get Report

rose modestly after it posted better-than-expected-fourth-quarter results. Excluding items, the financial resource management solutions company posted a fourth-quarter profit of 8 cents a share on sales of $22.4 million. Analysts were looking for a profit of 5 cents a share on sales of $21.8 million. Shares traded up a penny, or 0.1%, to $8.08.

Shares of

AirGate PCS

(PCSA)

rose after the company posted strong third-quarter financial results. The PCS affiliate of Sprint posted a third-quarter profit of 18 cents a share on sales of $86 million. A year ago, it posted a loss of $1.59 a share on sales of $83.2 million. Shares of AirGate PCS traded up $1.10, or 7.7%, to $15.34.

Other technology volume leaders included

Cisco

(CSCO) - Get Report

, down 50 cents to $17.79;

Intel

(INTC) - Get Report

, down 92 cents to $21.24;

Oracle

(ORCL) - Get Report

, down 29 cents to $9.90;

Lucent

(LU)

, down 16 cents to $2.70;

Microsoft

(MSFT) - Get Report

, down 53 cents to $26.88;

Dell

(DELL) - Get Report

, down 45 cents to $33.12; and

Sonus Networks

(SONSE)

, down 38 cents to $3.70.