Tech Stocks in Motion

Ariba is hammered on a big earnings miss.
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Updated from 1:20 p.m. EST

Shares of

Ariba

(ARBA)

were among technology's losers Tuesday, falling 32.4% after the company posted first-quarter earnings and sales that fell below expectations and warned that second-quarter earnings would disappoint, too.

Excluding items, the software company posted earnings of 2 cents a share on sales of $86.9 million. Analysts surveyed by Thomson First Call were expecting earnings of 4 cents a share on sales of $87.9 million. Looking ahead, Ariba forecast second-quarter earnings of 6 cents to 10 cents a share on sales of $85 million to $90 million. Analysts had been expecting earnings of 14 cents a share on sales of $89.8 million. Shares traded down $4.50 to $9.38.

Loudeye

(LOUD)

rose 3.3% after the company named a new CEO and said that fourth-quarter sales would be better than the previous guidance. The company's new CEO, Michael Brochu, will replace Jeffrey Cavins, who resigned to pursue other opportunities, the company said. Brochu most recently worked at Primus Knowledge Solutions as CEO. As for Loudeye's financial guidance, it now expects to post sales of $6.3 million during the fourth quarter, up from previous guidance of $5.2 million to $5.7 million. The company expects to post a loss that is at the high end of its previous range of $4.8 million to $5.2 million. Fourth-quarter sales were helped by strong performance in the company's digital music store business. Shares traded up 5 cents to $1.58.

Shares of

Avanex

(AVNX)

fell 18.1% after the company posted in-line second-quarter results but warned that third-quarter sales would fall short of expectations. The company reported a pro forma loss of $15.9 million, or 11 cents a share, on sales of $41.9 million. Analysts were expecting a loss of 11 cents a share on sales of $40 million. Looking ahead, the optic-communications gearmaker said that it expects third-quarter sales to be flat with second-quarter results. Analysts had been expecting sales of $42.3 million. Shares traded down 42 cents to $1.90.

Internet Security Systems

(ISSX)

fell 7.4% after the software company posted solid fourth-quarter results and said that first-quarter results would be in line with expectations. Excluding items, the company posted earnings of 22 cents a share on sales of $80.6 million. Analysts were expecting earnings of 20 cents a share on sales of $79.1 million. Looking ahead, Internet Security expects first-quarter earnings of 17 cents to 19 cents a share on sales of $75 million to $79 million. Analysts are expecting earnings of 18 cents a share on sales of $77.5 million. Shares traded down $1.66 to $20.69.

Shares of

TiVo

(TIVO) - Get Report

fell 4.2% after the company announced the resignation of its president. Marty Yudkovitz said his resignation would allow him to spend more time with his family. Yudkovitz will remain with the company as a consultant for a period of time. The announcement of his resignation comes less than three weeks after TiVo announced that co-founder Michael Ramsay would step down as CEO. In January, Ramsay said "the time is right for me, personally and professionally, to bring in an outstanding chief executive officer to lead the company so that I can focus on future strategy." Ramsay retained his chairman position. Shares traded down 17 cents to $3.84.

Other technology movers included

Intel

(INTC) - Get Report

, up 18 cents to $22.63;

JDS Uniphase

(JDSU)

, down 8 cents to $2.07;

Microsoft

(MSFT) - Get Report

, up 11 cents to $26.39;

Sirius Satellite Radio

(SIRI) - Get Report

, down 33 cents to $6.29;

Cisco

(CSCO) - Get Report

, up 9 cents to $18.13;

Sun Microsystems

(SUNW) - Get Report

, up 6 cents to $4.42;

Oracle

(ORCL) - Get Report

, down 12 cents to $13.65;

Applied Materials

(AMAT) - Get Report

, up 50 cents to $16.40;

Sprint

, up 35 cents to $24.18; and

Lucent

(LU)

, down 1 cent to $3.25.