Shares of

Sify Limited

(SIFY) - Get Report

were among technology's losers Tuesday, falling 9% after the Internet services company posted third-quarter results and announced the resignation of its chief operating officer.

The company posted a small third-quarter loss of $230,000 on sales of $26.7 million. During the year-earlier period, the company posted a loss of $2.1 million, or 6 cents a share, on sales of $21 million.

Sify also said that George Zacharias plans to pursue a career opportunity outside of the company, effective Jan. 30.

Finally, Sify said it plans to realign the company into three business units consisting of enterprise services, access media and portals. The company's core technology group will support the units, Sify said. Shares were recently trading down 99 cents to $9.94.

SanDisk

(SNDK)

declined 3% after Citigroup downgraded the flash memory company's shares to hold from buy. The firm cited the stock's lofty valuation for the downgrade. The stock, which has risen by about 45% since the beginning of December, prices in any potential upside from fourth-quarter financial results, Citigroup said. On Friday, Bear Stearns downgraded SanDisk for similar reasons. Shares were trading down $2.48 to $70.35.

Shares of

Scientific Games

(SGMS) - Get Report

rose 3% after the lottery-services company said it received a three-year contract with the Illinois Lottery for the supply of instant-ticket games and related services. The contract, which took effect on Dec. 29, is valued at $19.5 million. The contract contains two one-year options to renew and will be based on a percentage of retail sales. "The Illinois Lottery is one of the largest and most important in the United States. Going to a new, long-term contract is a gratifying vote of confidence in Scientific Games," the company said. Shares were trading up 79 cents to $30.81.

Shares of

Autodesk

(ADSK) - Get Report

fell 1% after the company announced a reshuffling of its executive suite. Carl Bass, the company's chief operating officer, will serve as president and chief executive beginning on May 1. He takes over for Carol Bartz, who served as CEO since April 1992. Bartz will become the company's first executive chairman. "As I assume my new duties as executive chairman, Carl's appointment as CEO represents a natural evolution of leadership at Autodesk," Bartz said. AutoDesk shares were trading down 54 cents to $42.34.

Yahoo!

(YHOO)

traded actively ahead of its fourth-quarter earnings report, which is due out after the market closes. Analysts polled by Thomson First Call are projecting earnings of 17 cents a share and sales of $1.07 billion. During the year-earlier period the company earned $373 million, or 25 cents a share, on sales of $1.08 billion. Shares were up 16 cents to $40.06.

Other technology movers included

Lucent Technologies

( LU), down 12 cents to $2.53;

Intel

(INTC) - Get Report

, down 28 cents to $25.51;

Microsoft

(MSFT) - Get Report

, down 7 cents to $27.12;

Sun Microsystems

(SUNW) - Get Report

, down 13 cents to $4.58;

Cisco

(CSCO) - Get Report

, down 27 cents to $18.65;

Applied Materials

(AMAT) - Get Report

, down 59 cents to $19.56;

Apple Computer

(AAPL) - Get Report

, down $1.33 to $84.26;

Sirius Satellite Radio

(SIRI) - Get Report

, down 5 cents to $6.23;

Rambus

(RMBS) - Get Report

, up 17 cents to $34.42;

JDSU

(JDSU)

, down 4 cents to $2.92;

Oracle

(ORCL) - Get Report

, down 6 cents to $12.45; and

Conexant Systems

(CNXT) - Get Report

, down 9 cents to $3.17.