Tuesday's Tech Winners & Losers

Garmin shares dive after a rival warns of lower first-quarter revenue.
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Updated from 2:26 p.m. EDT with new stock prices

Tech stocks took a downward turn Tuesday. The decline was led by GPS-based navigation devices maker

Garmin

(GRMN) - Get Report

after a rival warned of lower first-quarter revenues.

Shares of Garmin were down $4.23, or 8%, to $48.47 after its competitor

TomTom

said first-quarter revenue

would be lower

than its earlier forecast following price cuts leading up to the introduction of new models, as well as the reduction of inventory by retailers in Europe.

Metro PCS

(PCS)

added $1.11, or 5.9%, to $20.00 after the company

said it added

approximately 960,000 gross new subscribers, representing a 15% increase over the first quarter of 2007. The stock was also upgraded to outperform from market perform by an analyst at Wachovia.

TiVo

(TIVO) - Get Report

rose 26 cents, or 2.9%, to $9.10 after it extended its

patent licensing deal

with

Gemstar-TV Guide

for its products and service internationally. The two companies already have a licensing deal for North America.

AMD

(AMD) - Get Report

shed 31 cents, or 4.9%, to $6.03 after the company

cut its sales outlook

for the first quarter and said it will reduce its workforce by 10%.

AMD said revenue for the quarter will be about $1.5 billion, down 15% sequentially, compared to its earlier projections of a 5% to 10% decline in sales. Analysts polled by Thomson Financial were looking for $1.62 billion in sales.

Shares of IT security company

Websense

(WBSN)

fell 96 cents, or 4.9%, to $18.64 after an analyst at Friedman Billings Ramsey

cut his price target

on the stock to $19 from $21 on concerns that economic weakness will take its toll on the company's sales.