Shares of Symantec ( SYMC) were among technology's losers Tuesday, sliding 10% after the software company lowered its third-quarter earnings estimate. The company now expects to post earnings of 10 cents to 11 cents a share for the December quarter, below its prior view of 14 cents to 15 cents. On an adjusted basis, the company projects earnings of 24 cents to 25 cents a share, compared with its original forecast of 29 cents to 30 cents. Symantec estimates revenue of $1.29 billion to $1.31 billion, down from its previous forecast of $1.315 billion to $1.345 billion. Analysts polled by Thomson First Call project adjusted earnings of 29 cents a share and revenue of $1.34 billion. Looking ahead, Symantec sees adjusted fourth-quarter earnings of 18 cents to 20 cents a share, with revenue of $1.25 billion to $1.28 billion. Analysts project earnings of 32 cents a share and revenue of $1.4 billion. Shares were trading down $1.98 to $18.50. Lamson & Sessions ( LMS) fell 5% after the maker of electrical components cut its 2006 earnings projection. The company now anticipates earnings of $2.42 to $2.43 a share, down from an earlier forecast of $2.50 to $2.53 a share. Analysts forecast earnings of $2.52 a share. The company estimates revenue of $560 million to $561 million. Lamson blamed its revised outlook on weakness in its PVP pipe business. Shares were trading at $23.22, down $1.27.
SumTotal Systems ( SUMT) jumped 11% after the software company projected in-line earnings and higher-than-expected revenue for the fourth quarter. The company expects to post adjusted earnings of $2 million to $2.3 million, or 7 cents to 8 cents a share. SumTotal estimates revenue, meanwhile, of $30 million to $30.2 million. Analysts had forecast earnings of 7 cents a share and revenue of $29.4 million. For 2007, SumTotal projects an adjusted profit of 45 cents to 48 cents a share, with revenue of $130 million to $135 million. Wall Street projects earnings of 41 cents a share on revenue of $127.5 million. Shares were up 67 cents to $7.03. Shares of Phoenix Technologies ( PTEC) rose 8% after Ramius Capital Group boosted its buyout offer for the company to $5.25 a share. Previously, the investment firm offered to buy Phoenix for $5.05 a share in cash. The new bid represents a 13% premium over Friday's closing price of $4.63. Ramius, Phoenix's largest shareholder, said the software maker would be better off as a private company. Shares of Phoenix recently were trading at $4.98, up 35 cents. Other technology movers included Sirius Satellite Radio ( SIRI), up 7 cents to $4.17; Intel ( INTC), down 24 cents to $21.89; Cisco Systems ( CSCO), down 73 cents to $28.19; Microsoft ( MSFT), up 9 cents to $31.30; Apple ( AAPL), up $1.59 to $96.21; Sun Microsystems ( SUNW), up 1 cent to $6.07; and Level 3 Communications ( LVLT), unchanged at $6.60.