Updated from 3:29 p.m.

Shares of

Staktek Holdings

(STAK)

were among technology's losers Wednesday, falling 28% after the company posted first-quarter results that topped expectations but warned that second-quarter results would be well below expectations.

Excluding items, the maker of memory-stacking products posted earnings of $3.5 million, or 7 cents a share, on sales of $15.5 million. Analysts surveyed by Thomson First Call were expecting earnings of 6 cents a share on sales of $14.7 million. A year ago the company earned $6.3 million, or 13 cents a share, on sales of $21.8 million. Looking ahead, Staktek forecast second-quarter earnings of break-even to 1 cent a share on sales of $9.5 million to $10 million. Analysts were expecting earnings of 6 cents a share on sales of $14.3 million. License revenue during the quarter is expected to be about $3.5 million, which is well below prior quarters. The reduction is due to first-quarter seasonality and an increase in the mix of planar solutions used by

Samsung

during the first quarter. Shares traded down 98 cents to $2.52.

NovAtel

(NGPS)

rose 10.2% after the company posted big year-over-year gains in profit and sales. The maker of global positioning systems earned $3 million, or 35 cents a share, on sales of $12.5 million. A year ago the company earned $1.6 million, or 19 cents a share, on sales of $9.5 million. The company attributed the bulk of its sales gain to its special applications business, which grew by 35%. The special applications business benefited from higher product shipments into the surveying/mapping and precision agriculture markets. Shares traded up $1.71 to $18.44.

Shares of

Marchex

(MCHX) - Get Report

fell 17.2% after the company posted first-quarter results. The company, which provides technology solutions for online merchants, posted earnings of $388,000, or 1 cent a share, on sales of $18.4 million. Adjusted earnings before amortization was $4.2 million, or roughly 7 cents a share. Analysts were expecting adjusted earnings of 9 cents a share on sales of $17.7 million. Looking ahead, Marchex forecast 2005 sales at more than $86 million. Analysts are expecting sales of $85.7 million. Shares traded down $3.07 to $14.75.

I.D. Systems

(IDSY)

rose 14.4% after the company said it received a patent for a fully automated wireless vehicle and return system that is designed to improve the car rental experience for consumers and increase security, reduce costs and increase sales for car rental companies. I.D. Systems hopes the patent will help it further penetrate the market for wireless rental fleet management technology. Shares traded up $1.65 to $13.13.

Shares of

Artesyn Technologies

(ATSN)

fell 7.6% after the company announced the resignation of its chief financial officer. Richard Thompson, the company said, left the company so that he could pursue another opportunity. "I want to assure our investors that Rich's decision was made for personal reasons and in no way reflects any concerns, either on his or Artesyn's part, regarding Artesyn's accounting practices, financial reporting or internal controls," the company's CEO said in a statement. Until a full-time replacement is found, Gary Larsen will serve as the company's interim CFO. Shares traded down 54 cents to $6.57.

Other technology movers included

Cisco Systems

(CSCO) - Get Report

, up 34 cents to $18.55;

Apple Computer

(AAPL) - Get Report

, down 81 cents to $35.61;

Microsoft

(MSFT) - Get Report

, up 1 cent to $24.91;

Intel

(INTC) - Get Report

, up 10 cents to $24.77; and

Lucent Technologies

(LU)

, up 4 cents to $2.84.

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