Tech Stocks in Motion

Shares of Adtran(ADTN Quote) were among technology's winners Wednesday, rising 18% after the company raised its third-quarter earnings and sales guidance.

The telecom-equipment maker now expects earnings of 38 cents to 40 cents a share on sales of $143 million to $147 million. Previously, the company expected earnings of 29 cents to 31 cents a share on sales of $128 million to $130 million. Analysts surveyed by Thomson First Call had been expecting earnings of 31 cents a share on sales of $129.5 million. "Quarter-to-date bookings have been stronger than anticipated in both primary growth and traditional areas. We expect our momentum will result in record revenue and operating income this year," the company said.

Looking ahead, Adtran now expects full-year earnings of $1.18 to $1.22 a share on sales of $503 million to $511 million. Analysts had been expecting earnings of $1.09 a share on sales of $486.8 million. Shares were trading up $4.60 to $29.17.

Dobson Communications(DCEL Quote) fell modestly after the company said it plans to sell $300 million in debt. The debt sale would consist of $150 million in senior floating rate notes due 2012 and $150 million in senior convertible debentures that are due 2025. Dobson plans to use the proceeds to redeem all $299 million worth of its 10.875% senior notes due 2010. Shares were trading down 2 cents to $7.97.

Shares of International DisplayWorks(IDWK Quote) fell 17% after the company posted third-quarter results that fell short of expectations and warned that fourth-quarter sales would be below forecasts. The maker of liquid crystal displays posted earnings of $984,000, or 3 cents a share, on sales of $23.6 million. Analysts were expecting earnings of 4 cents a share on sales of $25 million. The company said that its sales were negatively impacted by an inventory problem with its largest customer. A year ago the company earned $370,000, or 1 cent a share, on sales of $11.6 million.