Shares of Embarcadero Technologies ( EMBT) were among technology's losers Monday, sinking 18% after the software company terminated an agreement to be acquired.

Embarcadero and EMBT Holding, an affiliate of investment firm Thoma Cressey Equity Partners, mutually agreed to scuttle the deal, Embarcadero said. The buyout was valued at $234 million, or $8.38 a share in cash. In addition to the merger termination, Embarcadero said it would need to restate its historical financial statements because it backdated stock options. The company's shares were trading down $1.28 to $5.69.

SanDisk ( SNDK) rose 4% after the maker of flash memory cards announced a $300 million stock buyback plan. The company plans to buy the shares over a two-year period. "SanDisk has adopted this repurchase program in order to opportunistically reduce the level of stockholder dilution caused by the issuance of employee equity incentive awards," the company said. "The size of this share repurchase program is less than the amount of cash generated from equity incentive exercises and related tax benefits over the past two years." Shares were trading at $44.04, up $1.53.

Shares of American Superconductor ( AMSC) slid 11% after the maker of electronic converters warned that third-quarter results would be well below expectations. For the December quarter, the company sees a loss of $9 million to $11 million, or 28 cents to 33 cents a share. Analysts polled by Thomson First Call project a loss of 19 cents a share. American Superconductor predicts revenue of about $9 million, below Wall Street's forecast of $12.4 million.

The company attributed the weak outlook to a delay in receiving Department of Energy funding for a power grid project and a delay in a motor delivery to the Navy. Shares of American Superconductor were down $1.22 to $9.63.

Shares of Mikron Infrared ( MIKR) sank 19% after the company posted improved fourth-quarter results but warned of pricing pressures. The company, a maker of temperature measurement devices, said earnings rose to $882,521, or 16 cents a share, from $749,751, or 13 cents a share, a year earlier. Revenue for the quarter ended Oct. 31 climbed to $8.9 million from $8 million a year earlier.

"Competition in our portable thermal imaging business has increased, and there has been an attendant downward effect on pricing levels," Mikron said. "Although unit sales increases have continued to rise in this product category, it will be difficult to maintain revenue increases in light of the deteriorating pricing situation." Shares were trading down $4.01 to $16.54.

Peerless Systems ( PRLS) rose 1% after the networking technologies company named Richard Roll president and chief executive. Roll replaces Howard Nellor, who will remain a member of the board. Nellor also entered into an 18-month consulting agreement with the company. Shares were trading up 4 cents to $2.88.

Other technology movers included Cisco Systems ( CSCO), up 15 cents to $27.71; Level 3 Communications ( LVLT), down 2 cents to $5.93; Sun Microsystems ( SUNW), unchanged at $5.65; Intel ( INTC), up 11 cents to $21.07; Oracle ( ORCL), up 19 cents to $17.87; Microsoft ( MSFT), down 1 cent to $30.18; and Sirius Satellite Radio ( SIRI), down 5 cents to $3.79.