Shares of Packeteer ( PKTR) were among technology's losers Friday, sliding 37% after the networking technology company posted third-quarter results that fell well short of Wall Street expectations.

The company earned $2.3 million, or 6 cents a share, on sales of $24.8 million. Excluding items, Packeteer would have earned $2.8 million, or 10 cents a share. Analysts surveyed by Thomson First Call were expecting earnings of 14 cents a share on sales of $29.9 million. A year ago, the company earned $3.4 million, or 10 cents a share, on sales of $23.1 million. "We are extremely disappointed with our performance in the third quarter," the company said. "Each region failed to meet the company's revenue expectations. We expect that our fourth-quarter net revenues will recover and approximate our earlier estimate for the third quarter." Shares recently dropped $4.32 to $7.28.

Ixia ( XXIA) fell 27% after the company posted third-quarter results that fell short of forecasts. The provider of IP network-testing systems earned $9.1 million, or 13 cents a share, on sales of $42.1 million. Excluding items, the company posted adjusted earnings of $9.8 million, or 14 cents a share. Analysts were expecting earnings of 15 cents a share on sales of $42.7 million. A year ago, the company posted adjusted earnings of $5.5 million, or 9 cents a share, on sales of $30 million. Shares were trading down $3.73 to $10.17.

Shares of Micro Linear ( MLIN) fell 46% after the chip company posted big declines in third-quarter earnings and sales. The company reported a loss of $1.8 million, or 14 cents a share, on sales of $3.7 million. A year ago, the company reported a profit of $600,000, or 4 cents a share, on sales of $5.9 million. Last year's results included a $1.1 million gain related to the sale of its San Jose, Calif., buildings. "Lower sales of digital cordless telephone transceiver chips and networking products accounted for most of the decrease in revenue from the prior quarter and the comparable third quarter of 2004," the company said. Gross margin, meanwhile, dropped to 57% during the most recent period from 58% a year ago. Shares were trading down $1.61 to $1.89.

Google ( GOOG) rose 12% after the search company posted blowout third-quarter results. The company earned $381.2 million, or $1.32 a share, on revenue of $1.58 billion. Excluding items, the company would have earned $1.51 a share. After subtracting commissions that Google pays out to its Web site advertising partners, the company posted revenue of $1.05 billion. Analysts were expecting earnings of $1.36 a share on revenue of $944.4 million. Shares recently traded up $37.66 to $340.86, boosted by raised price targets by multiple analysts.

Shares of Mercury Computer ( MRCY) plummeted 29% after the company posted first-quarter results that beat expectations but warned that second-quarter results would be well below forecasts and cut its full-year sales outlook. The company posted earnings of $3.1 million, or 14 cents a share, on sales of $66.9 million, for the first quarter ended Sept. 30. Excluding items, the company would have earned $6.3 million, or 27 cents a share. Analysts were expecting earnings of 20 cents a share on sales of $63.3 million. A year ago, the company reported earnings of $5.1 million, or 22 cents a share, on sales of $55 million.

Looking ahead, Mercury forecast second-quarter adjusted earnings of 8 cents to 10 cents a share on sales of $61 million to $64 million. Analysts had been expecting earnings of 30 cents a share on sales of $77.7 million. For all of fiscal 2006, the company now expects adjusted earnings of $1.00 to $1.05 a share on sales of $275 million to $285 million. Mercury, which noted continued sluggishness in the semiconductor industry and timing delays in defense programs, previously predicted sales of $295 million to $305 million. Analysts had been expecting earnings of $1.41 a share on sales of $299.4 million. Shares were trading down $7.62 to $18.57.

California Micro Devices ( CAMD) shares jumped 12% after the company's earnings easily beat analysts' estimates. The maker of analog semiconductor products said its third-quarter earnings fell to $2.03 million, or 9 cents a share, from $2.23 million, or 10 cents a share, a year earlier, but those results topped Wall Street's forecast for earnings of 6 cents a share. Revenue rose to $18.5 million from $17.1 million in the same quarter a year ago. "Our record Q2 revenue was the result of stronger than expected demand from our major OEM mobile handset customers," said Robert Dickinson, president and CEO. California Micro's shares recently gained 87 cents to $8.31.

Other technology movers included Microsoft ( MSFT), down 19 cents to $24.60; Intel ( INTC), down 17 cents to $23.45; Cisco ( CSCO), up 4 cents to $16.97; SanDisk ( SNDK), up $7.69 to $54.07; Yahoo! ( YHOO), down 2 cents to $35.24; Lucent Technologies ( LU), down 1 cent to $3.11; Oracle ( ORCL), up 11 cents to $12.25; Apple Computer ( AAPL), up 66 cents to $55.48; and Sirius Satellite Radio ( SIRI), down 6 cents to $5.91.