Shares of

Digitas

(DTAS)

were among technology's losers Wednesday, plunging 23% after the interactive marketing and services firm posted mixed second-quarter results and warned that third-quarter results would be below expectations.

For the second quarter, the company earned $13.5 million, or 14 cents a share, on fee revenue of $100.5 million. Excluding items, Digitas earned $17 million, or 17 cents a share. Analysts polled by Thomson First Call expected earnings of 16 cents a share on revenue of $102.2 million. During the year-earlier period, the company posted adjusted earnings of $13.3 million, or 14 cents a share, on revenue of $87.6 million.

Digitas sees third-quarter adjusted earnings of 10 cents to 13 cents a share, with fee revenue of $93 million to $97 million. Analysts project earnings of 17 cents a share and revenue of $106.3 million. "While I am disappointed in our reduced near-term outlook, due to a handful of specific client challenges, our largest and longest-standing client relationships remain strong," the company's CEO said. Shares were trading down $2.39 to $7.84.

Yahoo!

(YHOO)

shares tumbled more than 20% after the Internet company posted mixed second-quarter results and warned that it would delay the rollout of its search-engine upgrade. The company posted earnings of $164 million, or 11 cents a share. Revenue, excluding the money that it pays to its search-advertising partners, came in at $1.12 billion. Analysts expected earnings of 11 cents a share on revenue of $1.14 billion. A year earlier, the company earned $754.7 million, or 51 cents a share, on revenue of $875.1 million.

As for the delay of the search-engine upgrade, Yahoo! now sees the upgrade being delivered during the fourth quarter instead of the third quarter. Shares were trading down $6.49 to $25.75.

ADC Telecommunications

( ADCT) dropped 11% after the telecom equipment maker warned that third-quarter results will be well below Wall Street's forecast. For the period ending July 28, the company sees earnings, excluding items, of 25 cents to 28 cents a share. Analysts project earnings of 33 cents a share. ADC anticipates revenue of $330 million to $335 million, below Wall Street's target of $368.7 million.

"Given the current environment in which our larger wireline and wireless customers are consolidating and integrating operations, these short-term variations can be difficult to plan for and we do not believe they are reflective of the long-term prospects for our business," the company said. Shares recently were trading down $1.58 to $12.78. Shares of

Andrew

( ANDW), which is in the process of being acquired by ADC, fell 10 cents to $7.79.

Shares of

Datalink

(DTLK)

jumped 15% after the software company's second-quarter results handily beat expectations. The company earned $2 million, or 18 cents a share, on revenue of $39.8 million. Analysts predicted earnings of 7 cents a share on revenue of $33.5 million. During the year-earlier quarter, the company earned $446,000, or 4 cents a share, on revenue of $28.7 million.

Looking ahead, Datalink sees earnings of 5 cents to 10 cents a share, in line with analysts' forecast of 8 cents. The company projects revenue of $33 million to $37 million, compared with Wall Street's forecast of $34.1 million. Shares were up 99 cents to $7.75.

PLX Technology

(PLXT)

plummeted 21% after the chipmaker posted disappointing second-quarter earnings. The company earned $281,000, or 1 cent a share, on revenue of $19.4 million. Analysts expected earnings of 2 cents a share and revenue of $19.1 million. During the year-earlier period, the company posted a loss of $732,000, or 3 cents a share, on revenue of $13.2 million.

For the third quarter, PLX anticpates revenue of $19.5 million to $20.5 million. Analysts project revenue of $19.9 million. Gross margins are seen at 57% to 59%, compared with 58% in the second quarter. Shares were trading at $9.25, down $2.52.

Shares of

Unisys

(UIS) - Get Report

sank 13% after the information technology consulting firm posted a hefty second-quarter loss. The company reported a loss of $194.6 million, or 57 cents a share, on revenue of $1.41 billion. Results included a pretax charge of $141.2 million related to the company's reduction of 1,900 jobs. Analysts expected a loss of 7 cents a share and higher revenue of $1.45 billion. The company's year-earlier loss totaled $27.1 million, or 8 cents a share, on revenue of $1.44 billion.

Unisys' job cuts will bring the total number of planned headcount reductions to about 5,500. The job cuts are projected to result in annualized savings of more than $325 million by the second half of 2007, Unisys said. Shares recently were down 80 cents to $5.35.

Other technology movers included

Intel

(INTC) - Get Report

, up 14 cents to $18.35;

Microsoft

(MSFT) - Get Report

, up 38 cents to $23.12;

Cisco Systems

(CSCO) - Get Report

, up 30 cents to $18.18;

Oracle

(ORCL) - Get Report

, up 37 cents to $15.09;

Lucent Technologies

( LU), up 4 cents to $2.09;

JDSU

(JDSU)

, up 2 cents to $2.22;

Applied Materials

(AMAT) - Get Report

, up 22 cents to $15.71;

Apple Computer

(AAPL) - Get Report

, up 25 cents to $53.15;

Sun Microsystems

(SUNW) - Get Report

, up 8 cents to $3.93; and

Dell

(DELL) - Get Report

, up 60 cents to $21.94.