Friday's Tech Winners & Losers

Updated from 2:04 p.m. EDT

Tech stocks were following the broader market sharply higher Friday as speeches from Federal Reserve Chairman Ben Bernanke and President Bush helped soothe traders' jitters about the spread of the subprime crisis. But tech shares also received a boost from strong earnings reports in the sector.

Among the big winners was Open Text (OTEX Quote), which soared 23.6% after posting earnings that handily beat Wall Street forecasts. The enterprise-software developer reported second-quarter earnings of 52 cents a share, before certain items, topping analysts' 40-cent estimate. Sales surged 67% to $175.2 million, beating Wall Street's target of $165.6 million. Shares added $4.75 to $24.87.

OmniVision (OVTI Quote) climbed 4.8% after the maker of chip image sensors topped estimates and offered a stronger-than-expected guidance. For its fiscal first quarter, OmniVision recorded earnings of 35 cents a share, before items, with revenue of $173.1 million. Analysts expected earnings of 18 cents a share and revenue of $160.2 million.

For the current quarter, the company projected earnings of 34 cents to 46 cents a share, well above analysts' forecast of 22 cents. OmniVision sees revenue of $210 million to $230 million, compared with analysts' mean estimate of $170.9 million. Shares added 96 cents to close at $20.87.

PC giant Dell (DELL Quote) also had a strong earnings report, though its shares were modestly lower. Dell's profit surged 46%, while earnings per share climbed to 32 cents from 22 cents. Analysts expected earnings of 31 cents a share, excluding 3 cents in stock option charges. Revenue rose 5% to $14.77 billion, slightly ahead of Wall Street's $14.63 billion forecast. Shares of Dell, though, closed down 21 cents to $28.25.