Tech Stocks in Motion

Avid Tech falls on a weak second quarter.
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Shares of

Avid Technology

(AVID) - Get Report

were among technology's losers Thursday, falling 25% after the company previewed second-quarter results that fell well below Wall Street forecasts.

When the company posts results on July 21, it expects to report earnings of $12 million to $13 million, or 34 cents to 36 cents a share, on sales of about $160 million. Excluding items, the company expects earnings of $14.5 million to $15.5 million, or 40 cents to 42 cents a share. Analysts polled by Thomson First Call were expecting earnings of 58 cents a share on sales of $171.4 million. Avid blamed the shortfall on lower video sales and unfavorable foreign currency translation. Looking ahead, Avid said that unfavorable currency translation and a delay in shipping its Avid Symphony Nitris product would cause third-quarter sales to fall below previous guidance. Analysts are expecting third-quarter earnings of 67 cents a share on sales of $193.3 million. Shares were trading down $14.02 to $41.28.

Taser International

(TASR)

rose 2% after the stun-gun maker said a wrongful-death suit filed against it in California got dismissed. The federal court in the Eastern District of California granted Taser summary judgment on the claims of strict liability, breach of warranty, failure to warn and negligence, it said. "Our strategy is to never settle these baseless claims and we will continue to aggressively defend this type of frivolous litigation," Taser said. Shares were trading up 18 cents to $10.35.

Shares of

Identix

(IDNX)

fell 11% after the biometric technologies company cut its fourth-quarter earnings and sales guidance. The company now expects to report a loss of 5 cents a share on sales of $18 million to $18.5 million. Previously, Identix expected to report a loss of 1 cent to 3 cents a share on sales of $20.5 million to $23 million. Analysts are expecting a loss of 1 cent a share on sales of $22.3 million. Identix attributed the weaker-than-expected results to the delay of several contracts previously awarded to the company. Looking ahead, Identix forecast fiscal 2006 sales of $90 million to $98 million. Analysts are expecting sales of $100.7 million. Shares were trading down 60 cents to $5.01.

Network Equipment Technologies

(NWK)

fell 13% after the networking company posted a first-quarter loss that was wider than expected. The networking equipment company reported a loss of $5.1 million, or 21 cents a share, on sales of $18.4 million. Analysts were expecting a smaller loss of 12 cents a share on sales of $24.7 million. A year ago the company posted a loss of $829,000, or 3 cents a share, on sales of $29.1 million. Shares were trading down 73 cents to $4.80.

Shares of

Symbol Technologies

(SBL)

rose 9% after Jim Cramer gave the company the thumbs-up sign on his "Mad Money" show Wednesday night. Cramer told viewers of the

CNBC

show that investors should buy the stock on the back of secretary of Homeland Security Michael Chertloff's announcement that his department plans to spend a lot of money on technology that will protect the homeland in the U.S. Cramer believes that Symbol's radio frequency identification technology will be just the kind of technology the government is looking for. As a result, Symbol looks well positioned to win contracts, he said. Shares were trading up $1.02 to $12.23.

Other technology movers included

Apple Computer

(AAPL) - Get Report

, up $3.05 to $41.40;

Cisco Systems

(CSCO) - Get Report

, down 12 cents to $19.85;

Intel

(INTC) - Get Report

, up 42 cents to $28.01;

Microsoft

(MSFT) - Get Report

, up 32 cents to $25.98;

Lucent Technologies

(LU)

, down 2 cents to $3.19;

Oracle

(ORCL) - Get Report

, down 1 cent to $13.95;

Sun Microsystems

(SUNW) - Get Report

, up 3 cents to $3.75;

Sirius Satellite Radio

(SIRI) - Get Report

, down 2 cents to $6.89; and

Symantec

(SYMC) - Get Report

, down 27 cents to $23.83.