Shares of


(CREE) - Get Report

were among technology's losers Thursday, tumbling 12% after the maker of light-emitting diodes lowered its second-quarter forecast.

For the quarter ending Dec. 24, the company now sees earnings of 12 cents to 14 cents a share, including a gain of nine cents a share from the sale of securities. The company projects revenue of $90 million to $92 million. Previously, Cree forecast earnings of 14 cents to 17 cents a share, excluding the amortization of acquisition-related intangibles, on revenue of $105 million to $109 million. Analysts polled by Thomson First Call project earnings of 16 cents a share and revenue of $107.2 million.

Cree blamed the revenue shortfall on lower-than-expected orders for LED chip products. "The LED chip market remains challenging, particularly for our mid-brightness products in mobile applications," the company said. Shares were trading down $2.43 to $18.68.

WJ Communications

( WJCI) tumbled 19% after the maker of radio-frequency semiconductor products cut its fourth-quarter revenue forecast. The company now sees revenue of $10.8 million to $11.3 million, down from a prior projection of $12 million to $12.5 million. Analysts, on average, expect revenue of $12.4 million. For all of 2006, the company anticipates revenue of $48.3 million to $48.8 million, below its previous guidance of $49.5 million to $50 million. Wall Street projects revenue of $49.9 million.

"We are experiencing a slowdown in sales through our distribution channel beyond the anticipated softening in the Korean repeater business that we discussed during the third quarter's conference call and lower than expected results in the RFID market due to the ongoing unpredictability of its growth trends," the company said. Shares were trading down 34 cents to $1.40.

Shares of

Innovative Solutions & Support

(ISSC) - Get Report

fell 1% after the maker of flight information computers posted worse-than-expected fourth-quarter results. For the period ended Sept. 30, the company reported a loss of $949,000, or 6 cents a share, on revenue of $4.6 million. Analysts expected a loss of 2 cents a share, with revenue of $5 million. A year earlier, the company earned $1.2 million, or 7 cents a share, on revenue of $8.2 million. Shares were down $1.42 to $16.46.



shares jumped 8% after the search-technology company posted a 33% increase in third-quarter revenue. For the period ended Oct. 31, the company reported a loss of $16.6 million, or 32 cents a share, on revenue of $6 million. The results included a charge of $9.1 million and stock-based compensation costs of $1.4 million. During the year-earlier period, the company reported a loss of $2.5 million, or 5 cents a share, on revenue of $4.5 million. Shares were trading up 36 cents to $4.82.

Shares of

Fairchild Semiconductor


were down 1% after the chipmaker announced a restructuring plan and backed its fourth-quarter revenue and gross margin forecast. The company said the restructuring program is expected to generate cost savings of about $3 million a year. Fairchild will take a charge of $4 million during the fourth quarter and $500,000 in the first quarter on the plan.

Meanwhile, the company said it continues to expect that fourth-quarter revenue will be flat to up 2% from the third quarter. Margins are expected to fall 50 to 200 basis points on a sequential basis. Shares recently changed hands at $17.49, down 17 cents.

Other technology movers included


(ORCL) - Get Report

, down 39 cents to $17.49;

Sun Microsystems

(SUNW) - Get Report

, up 8 cents to $5.65;

Level 3 Communications


, up 23 cents to $5.77;

Sirius Satellite Radio

(SIRI) - Get Report

, up 2 cents to $3.87;


(INTC) - Get Report

, up 2 cents to $20.92;

ON Semiconductor


, up 56 cents to $7.36;

Apple Computer

(AAPL) - Get Report

, down $1.64 to $88.19;


(MSFT) - Get Report

, down 9 cents to $28.90;

Cisco Systems

(CSCO) - Get Report

, unchanged at $27.09;


(QCOM) - Get Report

, up 72 cents to $39.90; and

Alcatel Lucent


, up 46 cents to $13.73.