Shares of SSA Global were among technology's losers Tuesday, falling 9% after the software company previewed weaker-than-expected second-quarter results.

The company expects to report earnings of 9 cents a share for the quarter ended Jan. 31, or 25 cents a share excluding one-time items. SSA Global put total sales at $188 million. Analysts polled by Thomson First Call had forecast earnings of 27 cents a share and sales of $198.1 million. SSA will report its full second-quarter results on March 9.

For all of fiscal 2006, the company sees adjusted earnings of $1.05 to $1.09 a share and sales of $755 million to $765 million. Previously, the company predicted sales of $780 million to $800 million. The company blamed part of the sales revision on the strength of the U.S. dollar. Analysts project 2006 earnings of $1.12 a share, with sales of $793.6 million. Shares were trading down $1.61 to $16.16.

Vasco Data Security ( VDSI) climbed 10% after the software company posted fourth-quarter results that topped expectations. The company earned $3 million, or 8 cents a share, up from $481,000, or 2 cents a share, a year earlier. Sales rose to $17.5 million from $9.3 million. Analysts expected earnings of 6 cents a share on sales of $15.4 million. "In the fourth quarter of this year, we sold and delivered approximately $4.8 million of new business from Oct. 27, the date that we announced our backlog for the quarter, through the end of the quarter. We have also seen continuing strong demand through the 2005 holiday season and into 2006," the company said. Shares were up 98 cents to $10.60.

Centennial Communications fell 9% after the wireless services company cut its 2006 operating income forecast. The company now sees adjusted operating income of $350 million to $360 million, including about a $9 million startup loss. Previously, the company said that it would post adjusted operating income of $370 million to $390 million, including the startup loss. The company cut its capital expenditure projection to $150 million from a previous view of $160 million. Centennial said its adjusted operating income "continues to be pressured by higher customer acquisition costs associated with strong-than-expected customer activations in U.S. wireless, as well as higher costs related to increased minutes-of-use and increased equipment expense from GSM handset upgrades." Shares were trading down 79 cents to $8.41.

Shares of Excel Technology rose 4% after the company agreed to be acquired by laser maker Coherent ( COHR) for about $376 million, or $30 a share, in cash. The price represents a 6% premium to Excel's Friday closing price of $28.34. Coherent said the deal is anticipated to be modestly accretive to 2006 fourth-quarter earnings, and "meaningfully" accretive to 2007 earnings. The purchase is expected to close during the second quarter. Shares of Excel Technology were trading up $1.10 to $29.44, while shares of Coherent rose 49 cents to $30.88.

Serena Software ( SRNA) rose modestly after the company posted fourth-quarter earnings that were better than expected. The software company, which recently agreed to be acquired by Silver Lake Partners for $24 a share, earned $9.1 million, or 19 cents a share, in the quarter. Excluding items, the company earned $19.7 million, or 38 cents a share, 2 cents above analysts' mean estimate. The company reported sales of $70.1 million, topping Wall Street's target of $68.5 million. Last year, the company posted adjusted fourth-quarter earnings of $19.5 million, or 37 cents a share, on sales of $65.8 million. Shares were recently trading up 3 cents to $23.81.

Other technology movers included Intel ( INTC - Get Report), down 4 cents to $20.57; Sirius Satellite Radio ( SIRI), down 7 cents to $5.19; Microsoft ( MSFT), down 32 cents to $26.38; Cisco Systems ( CSCO), down 26 cents to $19.60; Oracle ( ORCL - Get Report), down 13 cents to $12.27; Applied Materials ( AMAT - Get Report), down 55 cents to $19.17; JDSU ( JDSU), down 8 cents to $2.98; Apple Computer ( AAPL), down $1.37 to $68.92; Dell ( DELL), down 32 cents to $30.06; Sun Microsystems ( SUNW), unchanged at $4.30; Nortel Networks , down 4 cents to $2.82; and Lucent Technologies , down 3 cents to $2.78.