Updated from 12:49 p.m. Shares of LeapFrog Enterprises ( LF) were among the worst-performing technology stocks Tuesday, falling 34.1% after the company cut its third-quarter and full-year earnings forecast far below analysts' expectations. The maker of educational games now expects third-quarter earnings of 32 cents to 34 cents a share, down significantly from its previous guidance of 55 cents a share. Analysts polled by Thomson First Call had been expecting earnings of 61 cents a share. Looking ahead, the company forecast full-year earnings of 40 cents to 60 cents a share on sales of $680 million to $710 million. Analysts had been expecting earnings of $1.19 on sales of $781.4 million. Supply chain and distribution center issues, along with weak sales of its LeadPad product, led to the earnings and sales revisions. Shares traded down $6.21 to $11.99. Cognex ( CGNX) fell 2.6% after the company posted strong third-quarter earnings but warned that fourth-quarter results would fall short of expectations. During the third quarter the computer technology company earned 25 cents a share on sales of $55.4 million. Analysts were expecting earnings of 24 cents a share on sales of $55.9 million. Looking ahead, Cognex forecast fourth-quarter earnings of 10 cents to 14 cents a share on sales of $42 million to $46 million. Analysts had been expecting earnings of 24 cents a share on sales of $56.1 million. Shares traded down 64 cents to $24.10. Shares of inTest ( INTT) fell 46% after the company lowered its third-quarter outlook and warned that it would post an operating loss during the fourth quarter. The maker of semiconductor test equipment expects pretax earnings of 10 cents to 12 cents a share on sales of $19.5 million. Analysts had been expecting earnings of 13 cents a share on sales of $19.9 million. Order weakness that plagued third-quarter results is expected to continue into the fourth quarter, the company said, resulting in a loss. Analysts had been expecting fourth-quarter earnings of 14 cents a share. Shares traded down $3.57 to $4.19.
SS&C Technologies ( SSNC) rose 21% after the company's third-quarter earnings and sales that beat expectation. The software company earned 20 cents a share on sales of $25.2 million. Analysts were expecting earnings of 19 cents a share on sales of $24.5 million. Looking ahead, it expects fourth-quarter earnings of 20 cents to 23 cents a share on sales of $25 million to $26 million. Analysts are expecting earnings of 21 cents a share on sales of $25.8 million. Shares traded up $3.74 to $21.59. Shares of Netopia ( NTPAE) fell 30.3% after the company announced that it would be delisted from the Nasdaq, effective Oct. 20. The software company had requested continued inclusion on the Nasdaq market, but the Nasdaq Listings Qualification Panel denied the company's request. What's more, because the company is not currently eligible to trade on the OTC bulletin board, Netopia expects its shares to trade on the pink sheets. Shares of Netopia traded down 91 cents to $2.09. Other technology volume leaders included Intel ( INTC), up 1 cent to $20.80; Lucent ( LU), down 12 cents to $3.38; Microsoft ( MSFT), down 23 cents to $28.18; Cisco ( CSCO), up 5 cents to $18.70; Isonics ( ISON), down $1.17 to $4.31; and Oracle ( ORCL), down 11 cents to $12.31.