Shares of PowerDsine ( PDSN) were among technology's losers Thursday, sliding 25% after the chip designer cut its fourth-quarter sales guidance and warned that it would post a loss for the period.

The Israeli company now sees sales of $7 million to $7.5 million, which will translate into a fourth-quarter loss of 3 cents to 5 cents a share. Previously, the company said that it would post sales of $11.2 million to $11.4 million. The company blamed the shortfall on weak sales of its Midspan product. "We are disappointed with our PoE Midspan product sales during the fourth quarter and the significant decline in customer orders," the company said. Analysts polled by Thomson First Call project fourth-quarter earnings of 7 cents a share on sales of $11.3 million. Shares were trading down $2.27 to $6.78.

On Semiconductor ( ONNN) traded actively after the chipmaker raised its fourth-quarter sales guidance and announced a convertible note sale. The company now sees sequential sales growth of 4% to 6%, up from its previous view of 2% to 3%. During the third quarter, the company posted sales of $313.6 million, which would put the new sales guidance at $326 million to $332 million. Analysts project fourth-quarter sales of $321.3 million. The company said that its consumer-driven end markets continued to grow "robustly" in the fourth quarter.

Separately, On Semiconductor said that it plans to sell $95 million of convertible senior subordinated notes in a private placement. The company plans to use proceeds from the sale to repay its outstanding 10% junior subordinated note due 2011. Any proceeds that are not used to repay the junior note, the company said, will be used for general corporate needs. Shares were recently trading down 28 cents, or 5%, to $5.72.

Shares of WPCS International ( WPCS) climbed 15% after the company posted big year-over-year gains in second-quarter earnings and sales. The company, which provides wireless engineering services, said earnings rose to $785,000, or 20 cents a share, from $31,000, or 2 cents a share, a year earlier. Sales grew to $14.3 million from $10.3 million. The company said that its strong second-quarter results keep it on track to post earnings of 58 cents a share for the entire year. Shares were trading up $1.17 to $8.82.

8X8 ( EGHT) tumbled 12% after the company said it plans to sell about 7.1 million shares to two institutional investors for $2.10 a share, resulting in net proceeds of about $14 million. The price represents a 17% discount to Wednesday's closing price of $2.52. The investors also will receive warrants to buy 1.8 million shares at an exercise price of $3 a share. 8X8 plans to use proceeds from the offering to scale its Packet8 VoIP services and subscriber base as well as for general needs. Shares were down 29 cents to $2.23.

Shares of Tier Technologies ( TIER) slumped 14% after the software company delayed its fiscal 2005 annual report and previewed fourth-quarter results that disappointed investors. Tier Technologies said it discovered a number of accounting errors while preparing its financial statements for 2005. The errors pertain to accounts receivable relating to a payment processing operation, certain accruals and reserves and certain notes receivable, Tier said. The company expects to restate its financial results for the fiscal years of 2002 through 2004 and for the associated fiscal quarters as needed.

Tier said the delay of its annual report and the restatements could result in a technical default under its revolving credit agreement. The company is seeking a waiver.

When the company reports its results, it expects to post a fourth-quarter loss of 7 cents to 8 cents a share on sales of $34.3 million. Analysts expected a profit of 1 cent a share and sales of $32.5 million for the fourth quarter, which ended Sept. 30. The company blamed the earnings shortfall on increased labor-related costs, adjustments to various reserves and additional Sarbanes-Oxley compliance costs. Shares were down $1.09 to $6.84.

Other technology movers included Microsoft ( MSFT), down 19 cents to $26.90; Cisco ( CSCO), up 5 cents to $17.74; Sirius Satellite Radio ( SIRI), up 17 cents to $7.17; Intel ( INTC), up 6 cents to $26.69; Lucent Technologies ( LU), up 4 cents to $2.79; Oracle ( ORCL), down 13 cents to $12.68; Conexant Systems ( CNXT), down 15 cents to $2.38; Sun Microsystems ( SUNW), down 2 cents to $4.40; Apple Computer ( AAPL), up 3 cents to $72.04; and JDSU ( JDSU), down 5 cents to $2.63.

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