Updated from 1:09 p.m.

Shares of Synnex ( SNX - Get Report) were among technology's losers Wednesday, falling 18% after the computer products distributor warned that first-quarter earnings and sales would fall below expectations.

The company expects earnings of 31 cents to 33 cents a share on sales of $1.34 billion to $1.35 billion. Analysts polled by Thomson First Call were expecting earnings of 38 cents a share on sales of $1.42 billion. The company said that increased competition in the information technology channel, coupled with demand that was lower than expected, hurt first-quarter results. The company said it was not pleased with its recent performance, but believes sales results for the first quarter only represent a short-term setback in its growth objectives. Shares traded down $4.13 to $18.77.

Tibco Software ( TIBX) fell 20.9% after the business software maker warned that first-quarter earnings and sales would fall short of Wall Street expectations. Excluding items, the company expects earnings of 4 cents to 5 cents a share on sales of $100 million to $102 million. Analysts had been expecting earnings of 8 cents a share on sales of $119 million. Tibco said the disappointing results were due to a lack of execution in certain geographic regions, with particular difficulty in Europe. The company also said that several deals were delayed near the end of the first quarter. "Given the strength we were seeing in our business and pipeline coming into Q1, and as late as the first part of last week, I did not expect us to produce such disappointing results," the company's CEO said in a statement. "I believe the issues that led to the shortfall can be corrected and I plan to move swiftly to do just that." Shares traded down $1.86 to $7.04.

Shares of Opsware ( OPSW) fell 8.7% after software maker posted in-line fourth-quarter results but warned that first-quarter sales would fall short of expectations. The company posted a loss of $2.1 million, or 2 cents a share, on sales of $11.58 million. Analysts were expecting a loss of 2 cents a share on sales of $11.4 million. A year ago the company posted earnings of $632,000, or 1 cent a share, on sales of $6.23 million. Looking ahead, Opsware forecast first-quarter sales of $11.6 million to $12.6 million. Analysts had been expecting sales of $13.1 million. For all of fiscal 2006, the company expects to post sales of $53 million to $66 million. Analysts are expecting sales of $65.9 million. Shares traded down 48 cents to $5.04.

Verity ( VRTY) fell 5.8% after the company warned that third-quarter earnings and sales would fall below expectations. Excluding items, the software maker expects to post earnings of 5 cents to 6 cents a share on sales of $33.5 million to $34.2 million. Analysts had been expecting earnings of 13 cents a share on sales of $39.4 million. "We are naturally disappointed to announce financial results below our expectations. Our performance was impacted by a number of opportunities at the end of quarter not closing as we had anticipated," the company said. The company will report third-quarter results on March 24. Shares traded down 63 cents to $10.26.

Shares of Zomax ( ZOMX) fell 8.9% after the company warned that it would post a fourth-quarter loss and said that it would restate its financial statements for 2003 and the first three quarters of 2004 because of accounting and financial irregularities at its Ireland subsidiary. Excluding items, the company expects to post a fourth-quarter loss of 2 cents to 3 cents a share on sales of $58.5 million. Analysts had been expecting a profit of 1 cent a share on sales of $53.7 million. As a result of the accounting irregularities, 2003 losses would be negatively impacted by $600,000, or 2 cents a share. Sales should be revised up by about $100,000. Earnings for the first three quarters of 2004 will be negatively impacted by a combined $2.3 million, or 9 cents a share. The company expects to post 2004 earnings by March 30. Shares traded down 38 cents to $3.90.

Other technology movers included Sirius Satellite Radio ( SIRI), up 3 cents to $5.92; Intel ( INTC - Get Report), down 10 cents to $24.52; Qwest ( Q), down 12 cents to $3.93; Microsoft ( MSFT - Get Report), down 2 cents to $25.26; Cisco ( CSCO), up 24 cents to $17.74; Lucent ( LU), down 1 cent to $3.16; and Oracle ( ORCL), down 10 cents to $13.05.