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Tuesday's Tech Winners & Losers

Poor earnings for companies like Stec sent some tech stocks down, but the sector was up overall.

The broader technology inched up Tuesday, but the biggest movers were heading the other way.

Stec

(STEC)

plunged 22% after the maker of computer memory posted a first-quarter earnings shortfall and warned that second-quarter earnings would be below forecasts. The company earned $6.7 million, or 13 cents a share, on revenue of $47.2 million. Excluding items, the company earned 5 cents a share. Analysts polled by Thomson Financial expected earnings of 6 cents a share on revenue of $44.8 million. During the year-earlier quarter, the company earned $1 million, or 2 cents a share, on revenue of $40.4 million.

Looking ahead, Stec sees second-quarter earnings of 1 cent to 3 cents a share on revenue of $41 million to $43 million. Analysts project earnings of 9 cents a share on revenue of $48.9 million. Shares were trading down $1.81 to $6.32.

Telestrone Technologies

(TSTC)

tumbled 20% after the provider of wireless communication products posted a decline in first-quarter earnings. The company earned $448,000, or 5 cents a share, on revenue of $4.8 million. During the year-earlier quarter, the company earned $717,000, or 8 cents a share, on revenue of $3.8 million.

Looking ahead, Telestone sees earnings and revenue growing by more than 30% during fiscal 2007. Shares were trading down $1.56 to $6.20.

China TechFaith

(CNTF)

slid 14% after the handset-software company posted disappointing first-quarter results. The company reported a loss of $3.4 million, or 8 cents a share, on revenue of $27.3 million. Analysts had expected a smaller loss of 2 cents a share on revenue of $28.9 million. During the year-earlier quarter, the company earned $1.3 million, or 3 cents a share, on revenue of $12.8 million.

Looking ahead, China TechFaith sees second-quarter revenue of $32 million to $35 million. Analysts, meanwhile, project revenue of $36.7 million. Shares were trading down $1.07 to $6.53.

Despite posting better-than-expected first-quarter results,

JA Solar

(JASO)

fell 5.5% Tuesday. The company earned $7.6 million, or 20 cents a share, on revenue of $43.4 million. Analysts expected earnings of 17 cents a share on revenue of $41.6 million.

Looking ahead, JA Solar continues to see 2007 revenue of $280 million, which is below the $289.1 million that analysts project. Shares were trading down $1.63 to $26.26.

Agilent Technologies

(A) - Get Agilent Technologies, Inc. Report

rose 5.4% after the maker of test and measurement equipment posted second-quarter results and issued upbeat third-quarter guidance. The company posted adjusted earnings of $176 million, or 43 cents a share, on revenue of $1.32 billion. Analysts expected earnings of 44 cents a share on revenue of $1.35 billion. During the year-earlier quarter, the company earned $157 million, or 36 cents a share, on revenue of $1.24 billion.

Looking ahead, Agilent sees third-quarter adjusted earnings of 46 cents to 50 cents a share on revenue of $1.36 billion to $1.4 billion. Analysts project earnings of 46 cents a share on revenue of $1.35 billion. Shares were trading up $2.02 to $37.93.

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As for the broader technology sector, the Nasdaq 100 was trading up about 3 points to about 1891.

Other technology movers included

Intel

(INTC) - Get Intel Corporation (INTC) Report

, down a penny to $22.11;

Sun Microsystems

(SUNW) - Get Sunworks, Inc. Report

, down 1 cent to $5.21;

Microsoft

(MSFT) - Get Microsoft Corporation (MSFT) Report

, up 12 cents to $30.99;

Applied Materials

(AMAT) - Get Applied Materials, Inc. Report

, down 33 cents to $20.09;

Cisco

(CSCO) - Get Cisco Systems, Inc. Report

, down 2 cents to $26.27;

Apple

(AAPL) - Get Apple Inc. (AAPL) Report

, up 61 cents to $109.97; and

Level 3 Communications

(LVLT)

, down 4 cents to $5.38.