Tech Stocks in Motion

Updated from 1:32 p.m. EDT

Shares of eSpeed ( ESPD) were among the worst-performing technology stocks Friday after the trading technology company warned that second-quarter earnings and sales would fall short of expectations.

Citing pricing pressure and lower-than-expected trading volumes in Europe, the company said it now expects to report second-quarter earnings of 15 cents to 16 cents a share on revenue of $42 million to $43 million. Previously, it had predicted earnings of 19 cents to 20 cents a share. Analysts polled by Thomson First Call had expected eSpeed to earn 20 cents a share on revenue of $46.4 million. eSpeed is scheduled to report second-quarter earnings on Aug. 5. Shares of eSpeed traded down $4.45, or 25.5%, to $13.01.

Informatica ( INFA) fell after it warned that second-quarter earnings and sales would be below expectations. Even though it hired a slew of sales associates during the quarter, the added staff didn't translate into stronger operating results, the company said. It now expects to break even or earn 1 cent a share on sales of between $52.5 million and $53.5 million. Analysts had expected it to earn a nickel a share on sales of $57.3 million. Shares of Informatica traded down 46 cents, or 7.1%, to $6.01.

Shares of webMethods ( WEBM) slumped after the software company warned Wall Street that first-quarter financial results would fall short of expectations. It now expects to report a pro forma loss of 19 cents to 22 cents a share on sales of $40 million to $41 million. Analysts had expected it to report a loss of 2 cents a share on sales of $53.3 million. The company said the shortfall was attributable in part to its inability to close several seven-figure deals during the quarter. The projections are particularly disappointing to Wall Street because the company had previously said that it was possible it could break even during the first quarter. Shares of webMethods traded down $2.71, or 32.5%, to $5.63.

Maxtor ( MXO) fell after it lowered its second-quarter earnings and sales forecast and said that it would cut 400 to 500 jobs. Excluding a charge and gain, it now expects to report a loss of $40 million to $50 million, or 16 cents to 20 cents a share, on sales of $820 million to $825 million. Analysts had expected it to report a loss of 7 cents a share on sales of $953.8 million. The job cuts, meanwhile, are expected to reduce costs by between $60 million and $80 million annually. Shares of Maxtor traded down 11 cents, or 1.7%, to $6.36.

Sybase ( SY) joined the list of earnings casualties Friday after the company warned that it would miss second-quarter earnings and sales expectations. The software maker said that it now expects to report pro forma earnings of 17 cents to 20 cents a share on sales of $188 million to $192 million. Analysts had expected it to earn 24 cents a share on sales of $198.6 million. The company cited lower-than-expected sales in North America, stemming from direct sales operations issues in its enterprise business, as a reason for the shortfall. Shares of Sybase traded down $1.90, or 10.8%, to $15.77.

Technology volume leaders included Intel ( INTC), down 69 cents to $26.33; Nortel Networks ( NT), down 26 cents to $4.56; Microsoft ( MSFT), down 6 cents to $28.57; Cisco ( CSCO), down 16 cents to $22.95; Oracle ( ORCL), down 16 cents to $11.65; Lucent ( LU), down 7 cents to $3.54; and Sun Microsystems ( SUNW), up 3 cents to $4.19.

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