Updated from 12:56 p.m. ESTShares of BindView Development ( BVEW) were among technology's losers Wednesday, falling 19.1% after the company cut its fourth-quarter earnings and sales outlook. Including charges of $2.4 million, the software company now expects earnings of 2 cents a share on sales of $22.5 million. Previously, BindView predicted earnings of 7 cents to 11 cents a share on sales of $24 million to $29 million. The company said it closed just one seven-figure transaction during the quarter, instead of the two it had previously expected. Analysts polled by Thomson First Call had been expecting earnings of 9 cents a share on sales of $25.9 million. Shares traded down 72 cents to $3.05. Websense ( WBSN) rose 11.8% after the company raised its fourth-quarter sales outlook above expectations. The software company now expects sales of $31.5 million, above previous guidance of $30 million to $31 million. Analysts had been expecting sales of $30.9 million. Fourth-quarter billings, meanwhile, are now expected to be about $51.7 million, about $3.7 million above the high end of the company's previous guidance. Full results for the fourth quarter will be released on Jan. 26. Shares traded up $5.33 to $50.33. Shares of TiVo ( TIVO) traded actively after the company announced that CEO Michael Ramsay would step down. Ramsay, the company said, will retain his chairman position going forward and remain as CEO until a successor is found. "The time is right for me, personally and professionally, to bring in an outstanding chief executive officer to lead the company so that I can focus on future strategy," Ramsay said in a statement. Ramsay co-founded TiVo in 1997 with Jim Barton. Howard Fischer Associates has been hired to help find a replacement for Ramsay. Shares traded up 3 cents to $4.23 on volume of nearly 8.7 million shares. Despite warning that fourth-quarter earnings and sales would fall to the low end of previous guidance, Zoran ( ZRAN) rose Wednesday. Excluding items, the maker of computer chips used in video and audio products now expects earnings results to be at the low end of its previous guidance of a loss of 5 cents a share to a profit of 1 cent a share. Sales are now expected to be at the low end of its previous guidance of $73 million to $78 million. Analysts had been expecting a loss of 3 cents a share on sales of $74.5 million. The latest warning marks the second time the company has disappointed investors with a weak fourth-quarter outlook. In October, the company warned Wall Street that fourth-quarter earnings and sales would fall significantly below expectations that prevailed at the time. Shares traded up 14 cents to $10.33.
Shares of Network Equipment Technologies ( NWK) fell 12.1% after the company posted a third-quarter loss on sales that fell short of expectations. The networking equipment company posted a loss -- which includes a $2.8 million restructuring charge -- of $2.9 million, or 12 cents a share, on sales of $29.7 million. Analysts had been expecting a profit of 6 cents a share on sales of $31 million. Shares traded down $1.02 to $7.41. Other technology movers included Intel ( INTC), up 62 cents to $23.16; Sirius Satellite Radio ( SIRI), up 17 cents to $6.27; Microsoft ( MSFT), up 5 cents to $26.78; Cisco ( CSCO), up 29 cents to $18.93; Applied Materials ( AMAT), up 38 cents to $16.53; Taser International ( TASR), up $2.91 to $17.01; Oracle ( ORCL), up 28 cents to $13.48; and Lucent ( LU), down 1 cent to $3.48.