Tech Stocks in Motion

Updated from noon EST

Shares of Loudeye(LOUD Quote) were among the best-performing technology stocks Tuesday, rising 16.4% after the company said it would provide digital media services for the Music Choice music network.

Loudeye will provide content management services to support the launch of the network's on-demand music video services for cable subscribers, it said. Shares traded up 27 cents to $1.92.

Cray(CRAY Quote) fell 15% after the maker of super computers said it would sell $60 million in convertible senior notes due 2024. The company also plans to grant the initial buyer an option to purchase an additional $15 million in notes. Cray said it would use the proceeds from the offering for general corporate purposes. Shares traded down 62 cents to $3.51.

Shares of Viisage(VISG Quote) rose 8.3% after the company said it signed a contract with the National Database and Registration Authority, a corporate organization in Pakistan. Under the deal, Viisage will integrate its face recognition technology into Pakistan's smart passport and national ID program. The program is designed to help the country enhance its national security and prevent problems ranging from identity theft to fraud. Shares traded up 62 cents to $8.07.

Micromuse(MUSE Quote) rose 5.2% after the company said it was selected by Japan's NTT Communications to provide a strategic infrastructure backbone that would be used to support NTT's new AGILIT service, a hosting applications service for big companies. Specifically, NTT will use Micromuse's Netcool software to provide operations management, event correlation, data analysis, and data presentation for AGILIT's services. The deal comes just two weeks after Micromuse posted strong fourth-quarter financial results and said it would post first-quarter earnings and sales above expectations. Shares traded up 26 cents to $5.26.

Shares of Kintera(KNTA Quote) fell 10.2% after the software provider said it would sell 2.5 million shares of stock for $7 a share. The price represents a 22.7% discount to Monday's closing price of $9.05. Kintera said it would use the $17.5 million in proceeds for general corporate purposes. Shares traded down 92 cents to $8.13.