Shares of

Phoenix Technologies

( PTEC) were among technology's losers Thursday, falling 23% after the software company posted third-quarter results that fell well below Wall Street forecasts.

The company earned $1 million, or 4 cents a share, on sales of $24.2 million. Analysts polled by Thomson First Call were expecting earnings of 12 cents a share on sales of $27.8 million. A year ago the company earned $912,000, or 4 cents a share, on sales of $23.1 million. "Although we would have liked to achieve our total revenue target, the shortfall was principally in our core business - Core System Software for PCs and servers - where we undertook aggressive activities to build market share with existing customers," the company said. Shares were trading down $1.97 to $6.61.

Sierra Wireless

(SWIR) - Get Report

rose 13% after the company posted a second-quarter loss that was narrower than expected. Excluding items, the company reported a loss of $7.5 million, or 30 cents a share, on sales of $21.9 million. In April the company said that it would report a loss of $8.5 million, or 33 cents a share, on sales of $20 million to $21 million. Analysts were expecting a loss of 31 cents a share on sales of $21.1 million. Looking ahead, Sierra Wireless forecast a third-quarter loss of $5.7 million, or 22 cents a share, on sales of $24 million. Analysts are expecting a loss of 24 cents a share on sales of $26.4 million. Shares were trading up 95 cents to $8.07.

Shares of

Avocent

( AVCT) rose 15% after the computer parts maker posted second-quarter earnings that were well above expectations. The company earned $11.1 million, or 22 cents a share, on sales of $89.5 million. Excluding items, the company would have earned $15.9 million, or 31 cents a share. Analysts were expecting earnings of 21 cents a share on sales of $85.8 million. A year ago the company posted pro forma earnings of $15.3 million, or 30 cents a share, on sales of $87.8 million. The company's most recent results were led by strong growth in its international markets and by its embedded solutions. Shares were trading up $4.64 to $34.73.

Westell Technologies

(WSTL) - Get Report

fell 32% after the company posted first-quarter earnings that were weaker than expected and said that third-quarter results would be disappointing. The telecom products company earned $4.1 million, or 6 cents a share, on sales of $75.6 million. Excluding a tax expense of 4 cents a share, the company would have earned $6.9 million, or 10 cents a share. Analysts were expecting earnings of 11 cents a share on sales of $74.3 million. A year ago the company turned in pro forma earnings of $5.5 million, or 8 cents a share, on sales of $56.2 million. Westell's most recent results were led by growth in the company's customer networking equipment segment. Looking ahead, Westell expects second-quarter earnings of 3 cents to 4 cents a share, which excludes an income tax provision, on sales of $61 million to $64 million. Analysts had been expecting earnings of 12 cents a share on sales of $75.8 million. "Clearly, we are disappointed with this near-term outlook, but I can assure you that we remain tightly focused on delivering profitable growth," Van Cullens, CEO, said in a statement. Shares were recently trading down $2.07 to $4.47.

Shares of

Flir Systems

(FLIR) - Get Report

rose 19% after the thermal imaging systems company posted second-quarter earnings that easily surpassed expectations. The company earned $24.6 million, or 31 cents a share, on sales of $131 million. Analysts were expecting earnings of 27 cents a share on sales of $132.7 million. A year ago the company earned $17.9 million, or 24 cents a share, on sales of $119.3 million. Looking ahead, Flir narrowed its 2005 sales outlook, but raised its earnings forecast. The company now expects earnings of $1.17 to $1.22 a share on sales of $545 million to $555 million. Previously, the company said that it would earn $1.12 to $1.18 a share on sales of $545 million to $560 million. Analysts are expecting earnings of $1.15 a share on sales of $548 million. Shares were trading up $5.41 to $34.39.

Other technology movers included

eBay

(EBAY) - Get Report

, up $6.12 to $40.99;

Microsoft

(MSFT) - Get Report

, up 9 cents to $26.28;

Intel

(INTC) - Get Report

, 36 cents to $27.08;

Qualcomm

(QCOM) - Get Report

, up $2.17 to $38.26;

Cisco Systems

(CSCO) - Get Report

, down 47 cents to $19.65;

Nokia

(NOK) - Get Report

, down $1.94 to $15.92;

Lucent Technologies

( LU), down 5 cents to $2.91;

EMC

(EMC)

, down 57 cents to $13.85;

Yahoo!

(YHOO)

, down 50 cents to $32.90;

Verisign

(VRSN) - Get Report

, down $4.70 to $24.29;

Oracle

(ORCL) - Get Report

, down 29 cents to $13.74;

Applied Materials

(AMAT) - Get Report

, down 22 cents to $18.17;

Sun Microsystems

(SUNW) - Get Report

, down 1 cent to $3.80; and

Sirius Satellite Radio

(SIRI) - Get Report

, up 6 cents to $6.81.