Shares of Audiovox ( VOXX - Get Report) were among technology's losers Wednesday, tumbling 15% after the consumer electronics maker posted a second-quarter loss on a 21% drop in revenue. For the period ended Aug. 31, the company reported a loss of $2 million, or 9 cents a share, compared with $3.7 million, or 17 cents a share, a year earlier. Revenue slid to $97.4 million from $122.9 million. Mobile electronics revenue, which represented more than 69% of revenue, came in at $67.4 million, down 14% from a year earlier. Consumer electronics revenue, which comprised about 31% of revenue, came in at $30 million, down 32% from a last year. Audiovox shares were down $2.19 to $12.71. CNET ( CNET - Get Report) dropped 6% after the tech media company said co-founder Shelby Bonnie has resigned as chairman and chief executive after an internal investigation found problems with some of the company's past option grants. The CNET board named Neil Ashe as the new CEO and appointed Jarl Mohn as nonexecutive chairman. CNET also cut its revenue projections, citing weak industry trends. The company estimates third-quarter revenue of $92.8 million, below its earlier guidance of $93 million to $96 million. For the full year, CNET lowered its outlook to $376 million to $386 million from a prior view of $386 million to $403 million. Shares were trading down 64 cents to $9.26. In another options-related move, McAfee ( MFE) fired President Kevin Weiss and said Chairman and CEO George Samenuk will retire in the wake of a probe into options grants. The security-software maker named board member Dale Fuller interim president and CEO. McAfee shares were adding 78 cents, or 3%, to $26.57.
Shares of IDT ( IDT - Get Report) slid 9% after the telecom company swung to a fourth-quarter loss and a decline in revenue. For the period ended July 31, the company reported a loss $86.5 million, or 91 cents a share, on revenue of $555.5 million. During the year-earlier period, IDT had break-even results on revenue of $567.4 million. Shares were down $1.63 to $12.87. Rambus ( RMBS - Get Report) rose 12% after the company, which designs and licenses technology related to computer memory, signed a licensing contract with Toshiba. The Japanese electronics giant plans to use two of Rambus' controller interface cells. Financial details were not released. Rambus shares were trading up $2.06 to $19.34. Shares of Open Text ( OTEX - Get Report) rose 4% after the software company estimated first-quarter results above Wall Street's expectation. For the period ended Sept. 30, the company expects to post earnings of 24 cents to 27 cents a share. Analysts polled by Thomson First Call project earnings of 23 cents a share. Open Text estimates revenue of $99 million to $101 million, compared with analysts' target of $96.6 million. Shares were up 66 cents to $18.96. Infosys Technologies ( INFY - Get Report) rose modestly after the software developer posted better-than-expected second-quarter results and gave a guidance that topped Wall Street's projections. For the period ended Sept. 30, the company posted earnings of 36 cents per American depositary share, with revenue of $746 million. Analysts expected earnings of 32 cents a share and revenue of $711.7 million. Looking ahead, Infosys sees third-quarter earnings of 37 cents a share on revenue of $790 million to $795 million. Analysts project earnings of 35 cents a share and revenue of $751.7 million. Shares were trading at $49.65, up 15 cents. Other technology movers included Intel ( INTC), up 6 cents to $20.95; Sirius Satellite Radio ( SIRI), down 8 cents to $3.78; Microsoft ( MSFT), down 12 cents to $27.57; Cisco Systems ( CSCO), up 3 cents to $24.36; Oracle ( ORCL), down 6 cents to $18.68; Apple Computer ( AAPL), down $1.07 to $72.74; Sun Microsystems ( SUNW), down 2 cents to $4.95; and JDSU ( JDSU), up 1 cent to $2.12.