NEW YORK (CNN/Money) - Technology stocks sagged on Thursday as lackluster earnings news from Hewlett-Packard Co. and Computer Sciences Corp. prompted investors to cash out after the market's solid gains in the previous session.

The tech-laced Nasdaq ended the session down 16.05 points, or 0.8 percent, at 2,073.61. Decliners outnumbered advancers by about 19 to 12 on Nasdaq.

But Hewlett-Packard (HPQ: Research, Estimates), one of the Dow 30 components, also dragged the blue-chip index lower after saying first-quarter profit would not beat Wall Street's forecast. Computer Sciences (CSC: Research, Estimates) fell after a disappointing profit forecast.

The Dow Jones industrials finished 43.63 points, or 0.4 percent, lower at 10,694.07.

Hewlett-Packard was the Dow's biggest loser, falling 93 cents, or nearly 4 percent, to $22.91. The company said on Wednesday that it will post quarterly results in line with its previous targets.

Computer Sciences shares fell $3.75, or 8 percent, to $42.87 after the technology services firm on Wednesday posted higher fiscal third-quarter profit but guided down on 2004 free cash flow, citing an unforeseen pension payment. It also gave lackluster fourth-quarter profit and revenue forecasts, as new contract signings are taking longer to ramp up and revenues from existing clients are falling.

Telecommunications equipment maker Sonus Networks (SONS: Research, Estimates) weighed on the Nasdaq after it said following Wednesday's closing bell that it is investigating the timing of some of its reported revenues and has fired some employees as part of the probe. Sonus fell $1.20, or 18 percent, to $5.49.

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Meanwhile, shares of Sirius Satellite Radio rose 10 cents to $3.11 after the satellite-radio provider raised its subscriber forecasts for 2004, boosted by a new agreement that calls for retailer RadioShack (RSH: Research, Estimates) and EchoStar Communications Corp.'s Dish Network (DISH: Research, Estimates) to distribute Sirius' service.

Among other big-name tech movers, Microsoft (MSFT: Research, Estimates) lost 20 cents at $26.95, while Cisco Systems (CSCO: Research, Estimates) fell 19 cents to $24.05.

Chipmaker Intel (INTC: Research, Estimates) lost a quarter to $30.74, but Sun Microsystems (SUNW: Research, Estimates) managed to add 3 cents to close at $5.77.

Dell (DELL: Research, Estimates), which reported earnings after the closing bell, fell 3 cents to $33.57 during regular trading on Thursday.

The PC maker said after the closing Thursday that quarterly profit rose on improved corporate spending on technology and consumer buying during the holiday season.  

-- Reuters contributed to the story