Today's Tech Winners and Losers

Shares of Finisar(FNSR Quote) were among technology's winners Friday, soaring 39% after the network-equipment maker posted better-than-expected third-quarter results.

The company earned $8.3 million, or 3 cents a share, on revenue of $93.5 million. Excluding items, the company earned $7.7 million, or 3 cents a share. Analysts polled by Thomson First Call expected break-even earnings on revenue of $90.2 million. A year earlier, the company had a loss of $33 million, or 15 cents a share, on revenue of $73.1 million. Excluding items, the fiber-optics company recorded a loss of $7.9 million, or 4 cents a share, during the year-earlier quarter.

"While our march to profitability has been a long and arduous path, we have remained steadfast in our commitment to delivering value to customers through focused R&D, in-house manufacturing and vertical integration," Finisar said. Shares were trading up $1.14 to $4.05.

Intel(INTC Quote) fell 2% after the chipmaker cut its first-quarter sales forecast. The company now sees sales of $8.7 billion to $9.1 billion, down from an earlier view of $9.1 billion to $9.7 billion. Analysts project sales of $9.42 billion. The company blamed the shortfall on weaker-than-expected demand and a small market-share loss. Intel doesn't give earnings guidance; analysts project earnings of 27 cents a share. Shares recently were trading down 40 cents to $20.09, after reaching a 52-week low of $19.86 earlier in the session.

Shares of Iowa Telecommunications (IWA Quote) rose 2% after the telecom company reported better-than-expected fourth-quarter results. The company earned $11.6 million, or 36 cents a share, reversing a year-earlier loss of $16.7 million, or 64 cents share, that included several charges. Revenue rose to $58.2 million from $56.7 million. Analysts expected earnings of 35 cents a share and revenue of $57.4 million. Shares were up 36 cents to $17.88.