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Tuesday's Tech Winners & Losers

Tech stocks retreated, despite Baidu.com's big gain.
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Tech stocks were down slightly Tuesday, despite a huge gain by Chinese Web site

Baidu.com

(BIDU) - Get Report

on a bullish analyst's comments.

JPMorgan initiated coverage of the stock with an overweight rating, as analyst Dick Wei said shares could rise to $400 by the end of next year, as Chinese Internet usage increases, according to the

Associated Press

. Baidu.com shares were adding $35.77, or 12.6%, to $320.58.

GPS device maker

Garmin

(GRMN) - Get Report

, however, continued to slide after Monday's news that phone maker

Nokia

(NOK) - Get Report

was buying digital mapmaker

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Navteq

(NVT) - Get Report

for $8.1 billion. Garmin is Navteq's biggest client. Shares fell $7.02, or 6.6%, to $100.21.

Garmin was the biggest decliner on the Nasdaq 100, which was lower by 1.08 points to 2115.89.

Telecom equipment provider

Ciena

(CIEN) - Get Report

jumped 9% after offering a

strong fourth-quarter outlook. At an analyst event in New York, Ciena raised its fiscal fourth-quarter gross margin guidance to a range of 47% to 49% from the previous mid-40% range. The company didn't update its sales and profit targets. Shares were gaining $3.52 to $42.69.

Vignette

(VIGN)

was losing 12.6% after the content management software provider disappointed investors with its third-quarter revenue guidance. The company sees third-quarter revenue of between $42 million and $44 million, below Wall Street's expectation of $48 million. The company expects non-GAAP net income of between 16 cents and 21 cents a share, vs. analysts' expectation of 19 cents a share. The company blamed the shortfall on disappointing licensing revenue. Shares were losing $2.57 to $17.77.

TransSwitch

(TXCC)

shares were tumbling 16.7% a day after the chipmaker announced lower than expected third-quarter revenue. Expectations for revenue are now between $7 and $7.4 million, as compared to previous estimates between $9.3 and $10.4 million. The stock tumbled 23 cents to $1.15.