Shares of

Pinnacle Systems

( PCLE) were among technology's losers Wednesday, falling 7% after the company lowered its third-quarter sales outlook.

The maker of video-editing tools now expects sales of $64 million to $66 million, down from previous guidance of $74 million to $77 million, which included sales of about $4 million from Team Sports. Without Team Sports, which the company sold in February, its forecast called for sales of $70 million to $73 million. Analysts polled by Thomson First Call are expecting earnings of 2 cents a share on sales of $74.9 million.

Pinnacle said the potential impact of its merger with

Avid Technology

(AVID) - Get Report

also created uncertainty during the quarter, resulting in slowed orders from Pinnacle's distribution channels. Pinnacle plans to post third-quarter results on April 27. Shares were trading down 39 cents to $5.15.

Despite raising fourth-quarter earnings and sales guidance,

Intermix Media

( MIX) fell 9% on Wednesday. The e-commerce company now expects to post a slight profit on sales of $23.5 million. Previously, the company expected to post a small loss on sales of $21 million to $22 million. Looking ahead, Intermix forecast break-even first-quarter earnings on sales of $25 million to $26 million. For all of 2006, it expects earnings of $8 million, or 17 cents a share, on sales of between $112 million and $115 million. Even with Wednesday's decline, shares of Intermix are still up more than 30% year to date. Shares were recently trading down 76 cents to $7.49.

Shares of

Broadwing

( BWNG) rose 27% after the company said that it would make its next convertible notes payment in cash. The company will pay a total of $1.57 million in interest and $32.1 million in principal on the notes, which mature on Feb. 20, 2006. Under the repayment terms, Broadwing has the option to pay its quarterly principal and interest due on the notes in cash or in stock. In August and November 2004, the company made its payment by issuing stock. Looking ahead, Broadwing said that it would determine its payment method for the three remaining payments on a quarter-by-quarter basis, taking into consideration its capital needs and market conditions. Shares were trading up 97 cents to $4.60.

Dobson Communications

(DCEL)

rose 17% after the wireless provider said it added 22,400 more subscribers in the first quarter than it did a year ago. When the company posts first-quarter earnings in early May, it expects to report about 122,000 gross subscriber additions, up from 112,300 during the fourth quarter and up from 99,600 during last year's first quarter. Dobson expects to post a net subscriber reduction of about 18,800 during the first quarter, which reflects a decline in its postpaid customer base of 28,500, the company said. During the fourth quarter the company posted a net subscriber decline of 25,600; it posted a decline of 5,400 during last year's first quarter. Shares were trading up 31 cents to $2.15.

Shares of

Orckit Communications

(ORCT)

rose 12% after the company posted big gains in first-quarter earnings and sales. The provider of telecom equipment earned $3.1 million, or 20 cents a share, on sales of $20.6 million. A year ago the company posted a loss of $5.4 million, or 41 cents a share, on sales of $320,000. Looking ahead, Orckit expects second-quarter earnings of $3.3 million, or 21 cents a share, on sales of about $21 million. For 2005, it expects earnings of $15 million, or 93 cents a share, on sales of $90 million. Shares were trading up $2.51 to $23.99.

Other technology movers included

Microsoft

(MSFT) - Get Report

, unchanged at $25.32;

Siebel Systems

( SEBL), down 36 cents to $8.61;

Cisco

(CSCO) - Get Report

, down 6 cents to $18.18;

Intel

(INTC) - Get Report

, down 25 cents to $22.97;

Lucent Technologies

( LU), down 2 cents to $2.58;

Apple Computer

(AAPL) - Get Report

, down $1.46 to $41.20;

eBay

(EBAY) - Get Report

, down 43 cents to $33.23;

Applied Materials

(AMAT) - Get Report

, down 22 cents to $15.70; and

Oracle

(ORCL) - Get Report

, down 11 cents to $12.38.