were among technology's losers Tuesday, plunging 19% after the wireless communications company slashed its first-quarter revenue projection.
The company estimates sales of $190 million to $200 million, down from an earlier view of $240 million to $250 million. Analysts polled by Thomson First Call project sales of $246.7 million.
"For the first quarter, we have experienced stronger seasonality than we expected, which has resulted in a slower start to the year than we were anticipating," Powerwave said. "Coupled with this stronger seasonality, we have experienced slower-than-expected demand from a major North American wireless network operator, which has also significantly impacted our first quarter." The company plans to post earnings on May 2. Shares were trading down $2.57 to $10.71.
Several other tech outfits were lower after cutting their first-quarter outlooks.
fell 6% after the software company lowered its earnings projection. The company now sees earnings of 5 cents to 7 cents a share. On an adjusted basis, which excludes items, the company projects earnings of 14 cents to 16 cents a share.
Previously, Manhattan Associates forecast net earnings of 11 cents to 15 cents a share, and adjusted earnings of 19 cents to 23 cents a share. Analysts project adjusted earnings of 22 cents a share. "Our results in the quarter were impacted by delays in closing software sales," the company said. Shares were trading down $1.35 to $19.97.
slumped 9% after the chipmaker lowered its first-quarter sales guidance. The company now sees sales of $35 million to $36 million, down from an earlier forecast of $39 million to $43 million. Analysts project sales of $40.4 million. The company blamed the shortfall on weaker-than-expected sales into the advanced television market. "We did not fully anticipate the weak market conditions we experienced during the quarter for advanced televisions in Europe and China," the company said. Shares were trading down 46 cents to $4.43.
Check Point Software
fell 6% after the software company warned that first-quarter results missed its expectations. The company now sees earnings, before items, of 30 cents to 31 cents a share. Check Point projects revenue of $133 million to $134 million. Analysts project earnings of 33 cents a share and revenue of $149.2 million.
Previously, the company forecast earnings of 32 cents to 34 cents a share, with revenue of $145 million to $155 million. The company said that it was hurt by its decision to not acquire Sourcefire, a shift in its product mix and slower growth in the industry. Shares were trading down $1.11 to $18.72.
rose 3% after the software company named Scott Cruickshank president and chief operating officer. The company also named David Hansen as president of its BidPay.com unit, which was acquired in March.
"Both of these individuals bring with them a powerful combination of deep payment industry experience, management skill and passion for CyberSource and its business," the company said. Cruickshank most recently served as president and COO of Qsent, a privately held company that provides data authentication services. Hansen most recently served as vice president and general manager of BidPay. CyberSource shares were trading up 27 cents to $10.73.
Other technology movers included
, down 15 cents to $3.93;
, down 5 cents to $3.03;
, up 6 cents to $19.41;
, down 22 cents to $5;
, up 10 cents to $3.68;
, up 2 cents to $5.11;
, down 4 cents to $21.55;
, down $1.06 to $61.59;
, up 18 cents to $27.74; and
Level 3 Communications
, up 10 cents to $4.97.