Tech Stocks in Motion

Shares of Micron Technology(MU) were among technology's winners Friday, rising 8% after the chipmaker posted an unexpected fourth-quarter profit.

The company earned $43.1 million, or 7 cents a share, on sales of $1.26 billion, for its fourth quarter ended Sept. 1. Analysts polled by Thomson First Call were expecting a loss of 8 cents a share on sales of $1.17 billion. A year ago, the company earned $93.5 million, or 14 cents a share, on sales of $1.19 billion. Micron's most recent results were fueled by a 15% sequential increase in DRAM sales, a 40% jump in sales of CMOS image sensors and a five-fold increase in NAND flash memory sales. Shares were trading up $1 to $13.19.

VeriSign(VRSN) traded actively after the company cut its third-quarter sales outlook but reiterated its earnings forecast. The Internet and telecommunications infrastructure company now expects sales of about $410 million, down from its previous guidance of $435 million to $440 million. Earnings before items, meanwhile, are still expected to be 27 cents a share. Analysts had been expecting earnings of 27 cents a share on sales of $438 million.

"VeriSign experienced mixed results in the third quarter as the strength in our Internet and core communications businesses was not enough to offset a revenue shortfall in the mobile content area due to higher than expected seasonal churn and further developments in industry requirements and guidelines for the marketing of mobile content in Europe," the company said. Despite the sales warning, shares of Verisign recently were trading up 61 cents to $21.27.

Shares of Pacific Internet(PCNTF) rose 3% after Vantage agreed to buy almost 29% of the company. Vantage is buying the stake from Kingsville Capital, which won't hold any shares of Pacific Internet after the sale. The 3.83 million shares are being sold for $30.5 million, which values the shares at $7.96 a share, representing a 20% premium to Thursday's closing price of $6.62. "The premium price for the consideration reflects Vantage's confidence in PacNet's business model and market growth opportunities," Pacific Internet said. Pacific Internet said it doesn't plan on changing its business strategy, operations, or management team as a result of the transaction. Shares recently traded up 22 cents to $6.84.