Shares of Rackable Systems ( RACK) were among the top losers in Friday's tech trading, tanking 38.7% after the company gave light guidance for the third quarter.The server and storage product maker said net income for the second quarter grew to $5.3 million, or 18 cents a share, from $1.2 million, or 7 cents a share, a year earlier. Excluding items, Rackable earned $8.1 million or 28 cents a share, beating the Thomson First Call survey estimate of 28 cents a share. Sales rose 5% to $88.6 million, beating First Call's estimate of $84.3 million. Briefing.com reported that the company said on its conference call that it expects to post third-quarter revenue of $80 million to $85 million, below First Call's projection of $84.3 million. For the full year, Rackable expects revenue of $345 million to $355 million, according to Briefing. First Call was expecting revenue of $345.1 million. The stock sheared off $13.51 to $21.40 in recent trading. Conexant ( CNXT) also fared poorly, dropping 12.5% after posting a wider third-quarter loss, and a disappointing outlook for the current quarter. The semiconductor company reported a loss of $67.1 million, or 14 cents a share, ballooning from a loss of $32.2 million, or 2 cents a share, in the year-ago quarter. Excluding items, the company made $18.6 million, or 4 cents a share, reversing a loss of $17.6 million, or 4 cents a share in the same period last year, beating the First Call consensus by a penny. Sales were $251.6 million, rising from $197.5 million a year ago. "The overall semiconductor market has clearly weakened over the past couple of months, and our outlook for the current quarter is not as strong as we expected it would be a quarter ago," Conexant CEO Dwight Decker said in a statement.