Shares of Eclipsys ( ECLP) were among technology's losers Thursday, tumbling 23% after the software company posted weaker-than-expected second-quarter sales and gave a full-year guidance below Wall Street's expectations.

Eclipsys reported second-quarter earnings of $1.1 million, or 2 cents a share. Excluding certain items, the company earned $5.8 million, or 11 cents a share, matching the Thomson First Call mean analyst estimate. Sales, though, totaled $102.3 million and fell short of analysts' target of $107 million. During the year-earlier period, the company reported an adjusted loss of $1.8 million, or 4 cents a share, on revenue of $95.9 million.

Eclipsys forecast full-year adjusted earnings of 52 cents to 58 cents a share and revenue of $422 million to $432 million. Analysts project earnings of 59 cents a share, with revenue of $435.4 million. Shares were trading down $4.50 to $15.12.

Cogent ( COGT) plunged 24% after the fingerprint-identification technology company posted second-quarter results that missed expectations by a wide margin. The company earned $3.6 million, or 4 cents a share, on revenue of $13.2 million. Excluding stock-based compensation costs, the company earned $4.4 million, or 5 cents a share. Analysts expected earnings of 10 cents a share and revenue of $28 million. A year earlier, the company earned $14.4 million, or 16 cents a share, on revenue of $39.4 million. "Our lower second-quarter revenues reflect lumpiness in our business, the timing of revenue recognition of contracts and the delay of projects from key existing customers," the company said. Shares were down $3.29 to $10.41.

Shares of LeapFrog Enterprises ( LF) sank 20% after the maker of technology-based educational toys posted second-quarter results that were well-below forecasts. The company reported a loss of $25.7 million, or 41 cents a share, widened from $9.8 million, or 16 cents a share, a year earlier. Analysts projected a smaller loss of 25 cents a share. Revenue tumbled to $68.1 million from $87.1 million, missing Wall Street's target of $82.3 million. "The results speak for themselves -- LeapFrog is a company with fundamentals that need to be addressed," the company said. Shares were trading down $1.90 to $7.65.

MRO Software ( MROI) jumped 18% after the software company agreed to be acquired by IBM ( IBM) for $740 million in cash, or $25.80 a share. The price represents a premium of 19% over MRO's Wednesday closing price of $21.60.

"By integrating our asset management capabilities with IBM, a leader in IT management software and asset management consulting, we can offer our customers a complete asset management solution on a global scale," MRO said. The acquisition is expected to close during the fourth quarter. Shares of MRO were up $3.89 to $25.49, while IBM shares were down 28 cents to $76.04.

Shares of inTest ( INTT) soared 28% after the maker of semiconductor test equipment posted big improvements in second-quarter results. The company posted second-quarter earnings of $1.9 million, or 21 cents a share, on revenue of $18.9 million. In the year-ago period, the company posted a loss of $1.8 million, or 21 cents a share, on revenue of $12.2 million. During the first quarter, the company earned $340,000, or 4 cents a share, on revenue of $13.7 million.

"This was an exceptional quarter for us as our revenue and EPS exceeded prior guidance," the company said. "Each of our three product segments came in ahead of our expectations in both bookings and net revenues, with our overall results demonstrating the improved leverage we have achieved in our operating model."

Looking ahead, inTest sees third-quarter pretax earnings of 10 cents to 15 cents a share. The company predicts revenue of $16.5 million to $17.5 million. Shares were trading up $1.16 to $5.40.

Other technology movers included Cisco Systems ( CSCO), down 26 cents to $17.22; Sirius Satellite Radio ( SIRI), down 5 cents to $3.97; Microsoft ( MSFT), up 10 cents to $24.40; Intel ( INTC), down 11 cents to $17.38; Sun Microsystems ( SUNW), up 3 cents to $4.32; Level 3 Communications ( LVLT), down 9 cents to $3.68; Rambus ( RMBS), down 76 cents to $11.89; Apple Computer ( AAPL), up 53 cents to $68.69; JDSU ( JDSU), up 2 cents to $2.11; and Lucent Technologies ( TU), down 4 cents to $2.06.