Xbox Live Gold price increase Nvidia Shield update Third stimulus check details Microsoft AI chatbot patent Bernie Sanders' mittens memes Returning stimulus money to the IRS Galaxy S21 review

Equity Movers: Palm, Micron, Cisco, IBM, HP

Palm, Micron, Cisco, IBM, Hewlett-Packard and Yahoo are among the technology stocks expected to move in the markets Wednesday.

The following is a list of technology companies that may move in the markets, Wednesday, Dec. 20.

Palm (PALM): The handheld computer maker is expected to report positive earnings Wednesday. Analysts have been expecting the company to earn an estimated 4 cents per share on revenue of more than $500 million. Shares of Palm fell $1.25, or almost 3 percent, to $42.38.

Micron Technology (MU): The maker of memory is expected to report earnings Wednesday. Analysts polled by First Call/Thomson Financial expect the company to earn 66 cents. Shares of Micron fell $2.19, or about 6 percent, to $32.56.

Cisco Systems (CSCO): The maker of computer networking equipment was downgraded to "near-term accumulate" from "near-term buy" by analyst Michael Ching at Merrill Lynch. Ching cited concerns about slowed capital spending by service providers. Shares of Cisco fell $3.44, or about 8 percent, to $38.31.

Foundry Networks (FDRY): The maker of switches and routers for computer networking warned that its fourth-quarter earnings would fall short of forecasts due to slowing sales. The company predicted earnings of 11 cents to 14 cents per share, far less than the 24-cent consensus estimate of analysts polled by First Call. Shares of Foundry fell $15.25, or almost 50 percent, to $15.38.

Jabil Circuit (JBL): The maker of circuit boards reported earnings that fell short of Wall Street's expectations by 2 cents. The company said it earned 24 cents per share, blaming its shortfall on the PC slowdown. The company also warned that its second-quarter operating income will fall 11 percent from the first quarter. Shares of Jabil fell $6.81, or about 24 percent, to $21.

Applied Micro Circuits (AMCC): The maker of chips for optical networks will replace J.P. Morgan in the Standard & Poor's 500 index after the close of trading Dec. 29. Stocks generally receive a boost when added to this index, as portfolio managers who mirror their funds after the S&P will buy the stock. Shares of Applied Micro Circuits rose $1.44, or about 2 percent, to $63.

IBM (IBM): The computer maker was downgraded to "near-term neutral" from "near-term accumulate" by Merrill Lynch analyst Thomas Kraemer. Kraemer cited a slowdown in information technology spending. Shares of IBM fell $3.56, or nearly 4 percent, to $86.56.

Hewlett-Packard (HWP): The seller of computers and computer equipment was downgraded to "near-term neutral" from "near-term accumulate" by Merrill Lynch's Kraemer, who cited a slowdown in IT spending. Shares of HP fell $1.31, or about 4 percent, to $30.

Yahoo (YHOO): The Web site operator was downgraded to "buy" from "strong buy" by CIBC World Markets analyst John Corcoran. Shares of Yahoo fell $1.19, or about 4 percent, to $26.81.