Updated from 1:00 p.m. ESTShares of eBay ( EBAY) were among technology's losers Thursday, falling 19.1% on heavy volume after the auction company posted fourth-quarter earnings that missed expectations and said that first-quarter numbers would fall short of the mark as well. Excluding items, the San Jose, Calif.-based company earned $205.4 million, or 33 cents a share, on sales of $935.8 million. Analysts polled by Thomson First Call were expecting earnings of 34 cents a share on sales of $934.4 million. Looking ahead, eBay forecast first-quarter earnings of 34 cents to 35 cents a share, well below analysts' expectations of 40 cents a share. Sales, according to eBay, are expected to come in at $1.01 billion to $1.03 billion, below the $1.05 billion in sales that analysts had been expecting. For the full year, eBay expects 2005 earnings of $1.48 to $1.52 a share on sales of $4.25 billion to $4.35 billion. Analysts had been expecting earnings of $1.61 a share on sales of $4.37 billion. Finally, eBay announced a 2-for-1 stock split, payable Feb. 16 to shareholders of record as of Jan. 31. Shares traded down $19.72 to $83.33 on volume of nearly 86 million shares, or almost nine times its daily average. Macromedia ( MACR) rose 21.8% after the company posted in-line third-quarter earnings on better-than-expected sales and said fourth-quarter sales would top forecasts. Excluding items, the software company posted a third-quarter profit of $16 million, or 21 cents a share, on sales of $108.6 million. Analysts were expecting earnings of 21 cents a share on sales of $106.8 million. A year ago the company earned $12.9 million, or 18 cents a share, on sales of $94.8 million. Looking ahead, Macromedia forecast fourth-quarter sales of $108 million to $113 million. Analysts had been expecting sales of $107.8 million. Macromedia said that fiscal 2006 sales would exceed $500 million, which is well above the $479.3 million that analysts had been expecting.