Updated from 1:17 p.m. ESTShares of Lucent ( LU) were among technology's losers Wednesday, falling 7.6% after the company posted a 53% decline in first-quarter earnings and turned in sales that were lower than expected. The telecommunications-equipment maker posted earnings of $174 million, or 4 cents a share, on sales of $2.34 billion. Analysts surveyed by Thomson First Call were expecting earnings of 4 cents a share on sales of $2.41 billion. A year ago Lucent earned $349 million, or 7 cents a share, on sales of $2.26 billion. Looking ahead, Lucent expects 2005 sales to grow by midsingle digits, which the company believes will be at or above the market growth rate. Shares traded down 28 cents to $3.42. Check Point Software ( CHKP) rose 4.3% after the company turned in fourth-quarter earnings and sales that topped Wall Street estimates. Excluding items, the maker of Internet security products earned $78.7 million, or 31 cents a share, on sales of $143 million. Analysts were expecting earnings of 29 cents a share on sales of $141 million. A year ago Check Point earned $65.3 million, or 26 cents a share, on sales of $115.2 million. Looking ahead, Check Point expects to earn between 28 cents and 29 cents a share during the first quarter on sales of $136 million to $139 million. Analysts are expecting earnings of 28 cents a share on sales of $137.5 million. Shares traded up 99 cents to $23.96. Shares of Rambus ( RMBS) fell 16.2% after the company reported fourth-quarter earnings that were weaker than expected. The semiconductor technology company earned $6.5 million, or 6 cents a share, on sales of $38.6 million. Analysts were expecting earnings of 8 cents a share on sales of $38.6 million. Legal expenses chipped away at the company's bottom line during the quarter, accounting for $5.2 million of the $29 million in total costs and expenses. A year ago Rambus earned $8.6 million, or 8 cents a share, on sales of $32.4 million. Shares traded down $3.46 to $17.85.