Friday's Tech Winners & Losers

Updated from 2:02 p.m. EST with new stock prices

Tech stocks traded higher Friday despite downward pressure from PC maker Dell (DELL Quote), which fell dramatically a day after posting disappointing third-quarter results and outlook.

Dell sank $3.60, or 12.8%, to $24.54 after the company reported third-quarter results. Dell grew its bottom line 27%, but its financial outlook disappointed investors.

The company's U.S. consumer business revenue declined 6% during the quarter, and its revitalization plans failed to impress analysts. Goldman Sachs(GS Quote), removed Dell from its "conviction buy" list of preferred companies and replaced it with Hewlett-Packard (HPQ Quote), barely a month after adding Dell to the list.

Shares of satellite radio companies Sirius(SIRI Quote) and XM(XM Quote) soared after a Wall Street analyst suggested the Department of Justice is set to approve the $13.6 billion acquisition deal between the two.

A Bear Stearns analyst said DOJ approval for the Sirius-XM deal is likely to come in the next few days. Sirius rose 31 cents to $3.83. XM was up $1.86, or 13.5%, to $15.60.

Motorola(MOT Quote) moved higher after CEO Ed Zander stepped down and said President and COO Greg Brown will replace him starting Jan. 1. Shares of Motorola were up 32 cents, or 2%, to $15.97.

Investors, including activist shareholder Carl Icahn, have been gunning for Zander's exit during the past few months after what they saw as Motorola's slipping hold on the mobile phone market and the poor valuation of the company.