Tech Stocks in Motion - TheStreet

Updated from 2:28 p.m. EDT

Shares of

IDX Systems

(IDXC)

were among technology's losers Wednesday, falling 3.3% after the company backed its 2005 financial guidance but cut its 2006 earnings and sales guidance.

The software company continues to expect 2005 earnings of $1.25 to $1.31 a share on sales of $610 million to $630 million. Analysts polled by Thomson First Call are expecting earnings of $1.30 a share on sales of $620.3 million.

However, for 2006 the company now expects earnings of $1.50 to $1.60 a share, down from previous guidance of $1.65 to $1.75 a share. Sales are now expected to be between $670 million and $690 million, down from earlier guidance of $700 million to $720 million. Analysts had been expecting earnings of $1.68 a share on sales of $713.7 million. Shares traded down $1.05 to $30.85.

Semtech

(SMTC) - Get Report

fell 0.6% after the company posted first-quarter earnings that matched expectations but forecast second-quarter earnings that were slightly below forecasts.

The semiconductor maker earned $10.8 million, or 14 cents a share, on sales of $56.2 million. Analysts were expecting earnings of 14 cents a share on sales of $56 million. A year ago, the company earned $14.8 million, or 19 cents a share, on sales of $61.9 million.

Looking ahead, Semtech forecast second-quarter earnings of 14 cents a share on sales that are expected to be flat with first-quarter results. Analysts had been expecting earnings of 15 cents a share on sales of $57.6 million. Shares traded down 10 cents to $18.14.

Shares of

Navarre

(NAVR)

fell 10.8% after the software company said that it would postpone its fourth-quarter and 2005 fiscal year financial results. The company said that the year-end closing process is taking longer than expected because it is still trying to determine the amount and timing of the recognition of deferred compensation expense related to its chief executive's 2001 employment agreement. The company is also reviewing the recognition and classification of certain fiscal 2005 tax issues.

The company, which is moving as quickly as possible to address the situation, said the noncash charges might force it to restate some of its historical financial statements, though the restatements would not have an impact on cash flows. Shares traded down 98 cents to $8.03.

Isonics

(ISON)

rose 13.9% after the company announced its first sale of 300-millimeter test wafers. In addition to its most recent sale of semiconductor wafers, which were sold in May, the company has also received a quantity of processed 300-millimeter wafers from a semiconductor manufacturer, which Isonics will use to qualify itself as a supplier of 300-millimeter reclaim services for the customer. Shares of Isonics traded up 43 cents to $3.53.

Shares of

Altera

(ALTR) - Get Report

fell slightly after the chipmaker said that second-quarter sales would come in at the high end of its previously issued forecast. Previously, the company said it expected to grow sales by 4% to 5%. Analysts are expecting sales of $276.5 million, or sales growth of roughly 3%. "Sales of the company's newest products, Stratix II, Cyclone II, and Max II, are ramping strongly, reflecting excellent availability and strong customer acceptance," the company said. Shares traded up 1 cent to $22.17.

Other technology movers included

Intel

(INTC) - Get Report

, up 37 cents to $27.33;

Microsoft

(MSFT) - Get Report

, up 4 cents to $25.84;

Cisco Systems

(CSCO) - Get Report

, up 23 cents to $19.63;

Nortel Networks

(NT)

, up 20 cents to $2.79;

Google

(GOOG) - Get Report

, up $9.96 to $287.23;

Oracle

(ORCL) - Get Report

, up 9 cents to $12.89;

Sun Microsystems

(SUNW) - Get Report

, up 12 cents to $3.93; and

Lucent Technologies

(LU)

, unchanged at $2.81.