Shares of Datalink ( DTLK) were among technology's losers Wednesday, falling 21% after the data storage systems company posted third-quarter earnings that were below expectations.

The company earned $295,000, or 3 cents a share, on sales of $31.2 million. Analysts polled by Thomson First Call were expecting earnings of 6 cents a share on sales of $29 million, while Datalink had forecast earnings of 2 cents to 10 cents a share on sales of $27 million to $31 million. A year ago, the company reported a loss of $717,000, or 7 cents a share, on sales of $25.6 million.

Looking ahead, Datalink forecast fourth-quarter earnings of 2 cents to 10 cents a share on sales of $27 million to $31 million. Analysts are expecting earnings of 5 cents a share on sales of $28.5 million. Shares were trading down 89 cents to $3.33.

SCM Microsystems ( SCMM) rose 12% after the company raised its third-quarter sales target. SCM, which makes systems that enable people to access digital content, now expects sales of $13 million to $14 million, up from its previous guidance of $8 million to $12 million. "We sold higher-than-expected volumes of our digital pay-TV decryption modules to an existing customer that is adding subscribers for the fall soccer season," the company said. "We also benefited from seasonally driven orders for flash media readers from OEM customers that are gearing up for 2005 holiday sales." Shares recently traded up 32 cents to $3.02.

Shares of Apple Computer ( AAPL) fell 3% after the company posted solid fourth-quarter earnings on weaker-than-expected sales. Apple earned $430 million, or 50 cents a share, on sales of $3.68 billion. Excluding a tax benefit, the company would have earned 38 cents a share. Analysts were expecting earnings of 37 cents a share, before the benefit, on sales of $3.73 billion. A year earlier, the company earned $106 million, or 13 cents a share, on sales of $2.4 billion.

Looking ahead, Apple forecast first-quarter earnings, before items, of 49 cents a share on sales of about $4.7 billion. Analysts had been expecting earnings of 48 cents a share on sales of $4.53 billion. Shares were trading down $1.46 to $50.13.

Advanced Micro Devices ( AMD) fell 12% despite the company posting third-quarter results that were well above expectations. The chipmaker reported earnings of $76 million, or 18 cents a share, on sales of $1.52 billion. Analysts were expecting earnings of 8 cents a share on sales of $1.38 billion. A year earlier, the company earned $44 million, or 12 cents a share, on sales of $1.24 billion. Looking ahead, AMD forecast sequential chip sales growth of between 7% and 13%. Shares, which had climbed by about 69% since May, were recently trading down $2.83 to $21.17.

Research In Motion ( RIMM) rose 2% after the BlackBerry maker's board authorized a new share repurchase plan. Under the 12-month buyback plan, RIM will purchase 9.5 million shares, which represents about 5% of the company's outstanding shares. "The board of directors of RIM believes that the proposed purchases are in the best interests of the company and its shareholders and are a desirable use of corporate funds," the company said. Shares were trading up $1.34 to $64.36.

Shares of Avanex ( AVNX) rose 8% after the company announced a supply agreement with Alcatel ( ALA). The agreement, which runs until October 2007, calls for Avanex to continue supplying Alcatel with fiber optic components. "We have always had a close working relationship with Alcatel, and we are committed to support them with important components for their metro, long haul and submarine telecommunications system deployments," Avanex said in a statement. The supply agreement, Avanex said, is part of a series of transactions that are currently being negotiated between the two companies. Shares were trading up 6 cents to 84 cents.

Other technology movers included Cisco ( CSCO), down 9 cents to $17.10; Intel ( INTC), down 50 cents to $22.92; JDSU ( JDSU), down 5 cents to $1.97; Microsoft ( MSFT), up 7 cents to $24.48; Lucent Technologies ( LU), down 1 cent to $3.08; Oracle ( ORCL), up 2 cents to $12.10; Sun Microsystems ( SUNW), down 1 cent to $3.99; Sirius Satellite Radio ( SIRI), down 1 cent to $6.41; and Applied Materials ( AMAT), up 14 cents to $16.97.

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