Shares of Open Text ( OTEX - Get Report) were among technology's losers Friday, slumping 17% after the software company posted weaker-than-expected third-quarter results, offered a soft revenue guidance and named a new financial chief.

For the third quarter ended March 31, the company earned $7.3 million, or 15 cents a share, on revenue of $100.9 million. Excluding items, the company earned $13.7 million, or 27 cents a share. Analysts polled by Thomson First Call expected a profit of 29 cents a share, before items, on revenue of $106.4 million. A year earlier, Open Text earned $5.3 million, or 10 cents a share, on revenue of $105.2 million. Excluding items, the year-earlier profit was $10.7 million, or 21 cents a share.

Looking ahead, Open Text sees fourth-quarter earnings of 25 cents to 35 cents a share, with revenue of $100 million to $110 million. Analysts project earnings of 33 cents a share and revenue of $114.3 million. The company also announced that Paul McFeeters will become chief financial officer on June 1. He'll replace Alan Hoverd, who will take on a new role as executive vice president of strategic initiatives. Open Text shares were down $3.33 to $15.78.

Axcelis Technologies ( ACLS - Get Report) jumped 14% after the maker of semiconductor-processing equipment posted in-line first-quarter earnings and projected second-quarter results above analysts' expectations. The company earned $545,000, or 1 cent a share, on revenue of $97.9 million. Analysts expected earnings of 1 cent a share and revenue of $96.2 million. During the year-earlier quarter, the company earned $1.9 million, or 2 cents a share, on revenue of $100 million.

Axcelis sees second-quarter earnings of 10 cents to 14 cents a share and revenue of $112 million to $122 million. Analysts project earnings of 4 cents a share, with a top line of $102.9 million. Shares were up 87 cents to $6.91.

Shares of Plato Learning slid 14% after the provider of e-learning products warned that second-quarter results would be below expectations. The company sees a loss of $5.5 million to $6.3 million, including charges of about $200,000, for the quarter ended April 30. Plato projects revenue of $19 million to $20 million. Analysts had forecast a loss of 2 cents a share on revenue of $31 million.

"Our company is transitioning to new products, new subscription licensing programs, new account managers, and new customer segments," Plato said. "These changes are essential to the company's growth objective. Our progress on the execution of this transition during the second quarter was below expectations." In last year's second quarter, Plato posted a loss of $3 million, including restructuring costs of $600,000, on revenue of $31.4 million. Shares were trading down $1.32 to $8.37.

Despite posting better-than-expected first-quarter results, shares of Diodes ( DIOD - Get Report) slipped 7%. The chipmaker earned $9.3 million, or 34 cents a share, on revenue of $73.6 million. Excluding stock-based compensation costs, the company earned $10.7 million, or 38 cents a share. Analysts expected earnings of 36 cents a share and revenue of $72.7 million. During the year-earlier quarter, the company earned $7.2 million, or 31 cents a share, on revenue of $48.6 million.

Diodes anticipates sequential revenue growth of 3% to 6%, resulting in revenue of $75.8 million to $78 million. Analysts project revenue of $75.2 million. Shares, which had climbed some 40% since the beginning of the year, recently were down $3.32 to $40.30.

Shares of California Micro Devices slid 12% even though the company posted better-than-expected fourth-quarter results. The company earned $5 million, or 22 cents a share, reversing a year-earlier loss of $991,000, or 5 cents a share. Excluding items, the company earned 10 cents a share, topping analysts' mean estimate of 7 cents. Revenue rose to $17.4 million from $14.5 million. Wall Street expected revenue of $17 million. Shares recently changed hands at $7.10, down 98 cents.

Other technology movers included Microsoft ( MSFT), up 38 cents to $23.82; Conexant ( CNXT - Get Report), up 31 cents to $3.85; Sun Microsystems ( SUNW), up 7 cents to $5.02; Cisco Systems ( CSCO), down 6 cents to $21.80; Intel ( INTC), up 10 cents to $19.44; JDSU ( JDSU), up 2 cents to $3.41; Applied Materials ( AMAT), up 40 cents to $18.95; Apple Computer ( AAPL), up 40 cents to $71.53; Finisar ( FNSR), down 6 cents to $5.26; Lucent Technologies , up 2 cents to $2.78; and Oracle ( ORCL), down 1 cent to $14.31.