Shares of Genesis Microchip ( GNSS) were among technology's losers Tuesday, sliding 17% after the chip designer posted a wider-than-expected loss in its fiscal third quarter and gave a revenue forecast that was well below expectations. For the quarter ended Dec. 31, the company reported a loss of $130.4 million, or $3.57 a share, on revenue of $51.1 million. Excluding charges, Genesis posted a loss of $7.7 million, or 21 cents a share. Analysts polled by Thomson First Call expected a loss of 3 cents a share and revenue of $54.6 million. During the year-ago period, the company earned $7.4 million, or 20 cents a share, on revenue of $74 million. Genesis forecast fourth-quarter revenue of $35 million to $40 million, well short of analysts' target of $51.1 million. "Our exposure to the TV market in Europe, coupled with the loss of market share by a few of our key customers, led to disappointing results in the third quarter and reduced expectations for the fourth quarter," the company said. Shares were trading down $1.68 to $8.18. CNet Networks ( CNET) rose 9% after the online media company posted better-than-expected fourth-quarter revenue. The company earned $6.3 million, or 4 cents a share, on revenue of $118.4 million. Analysts expected revenue of $111.8 million. During the year-earlier period, the company earned $20.7 million, or 13 cents a share, on revenue of $103.7 million. For the first quarter, CNet expects a loss of between 3 cents and 6 cents a share, with revenue of $90 million to $94 million. Analysts project a loss of 3 cents a share and revenue of $91.8 million. Shares were trading up 75 cents to $9.15.
Shares of Kronos ( KRON) rose 8% after the software company posted better-than-expected results in its fiscal first quarter. For the quarter ended Dec. 30, the company earned $5.7 million, or 18 cents a share, on revenue of $148.7 million. Excluding items, Kronos earned 36 cents a share. Analysts projected earnings of 33 cents a share, before items, and revenue of $148.5 million. A year earlier, the company earned $6.2 million, or 19 cents a share, on revenue of $127.9 million. Those results included items that reduced earnings by 12 cents a share. Kronos sees adjusted second-quarter earnings of 42 cents to 47 cents a share, bracketing analysts' mean estimate of 44 cents. The company anticipates revenue of $154 million to $159 million, compared with Wall Street's forecast of $162.3 million. Shares were trading up $2.56 to $36.56. SafeNet ( SFNT) rose 3% after the software company backed its fourth-quarter revenue guidance. The company estimates revenue of $78 million to $82 million. Analysts project revenue of $80.3 million. For the full year, SafeNet expects to report revenue of $288 million to $292 million. Analysts project revenue of $290.1 million. For the first quarter, SafeNet anticipates revenue of $67 million to $70 million. For all of 2007, the company sees revenue of $318 million to $326 million. Analysts project first-quarter revenue of $70.4 million and full-year revenue of $316.8 million. Shares were up 71 cents to $24.87.
Shares of Concur Technologies ( CNQR) rose 2% after the software company said it plans to buy back up to 2 million shares. The buyback plan, which will be conducted over a two-year period, replaces the Concur's previous buyback plan. Under that program, the company bought back some 1.3 million shares. Shares recently traded at $14.98, up 25 cents. Other technology movers included Sun Microsystems ( SUNW), up 13 cents to $6.48; Intel ( INTC), up 14 cents to $21.03; Microsoft ( MSFT), down 27 cents to $30.26; Cisco Systems ( CSCO), up 6 cents to $26.27; Level 3 Communications ( LVLT), up 2 cents to $6.16; Sirius Satellite Radio ( SIRI), up 2 cents to $3.72; Oracle ( ORCL), down 2 cents to $17.25; Apple ( AAPL), down 10 cents to $85.84; and Applied Materials ( AMAT), up 7 cents to $17.68.