Thursday's Tech Winners & Losers

Shares of Avici Systems(AVCI Quote) were among technology's winners Thursday, soaring 42% after the maker of network-routing equipment swung to a second-quarter profit and posted a big gain in revenue.

The company earned $7.9 million, or 58 cents a share, on revenue of $25.3 million. Excluding items, the company earned $8.5 million, or 62 cents a share. Analysts polled by Thomson First Call expected a loss of 17 cents a share. A year earlier, the company posted an adjusted loss of $4.1 million, or 32 cents a share, on revenue of $11.1 million.

"Due to a surge and acceleration in demand this quarter's revenue and bottom line results have far exceeded our expectations and resulted in the company turning cash flow positive," Avici said. "We expect to continue to see strong revenue and bottom line results in 2006, but caution that the business conditions driving this increased demand can change significantly." Shares were trading up $2.33 to $7.86.

Apple Computer(AAPL Quote) surged 12% after the maker of computers and iPods posted stronger-than-expected third-quarter earnings. For the period ended July 1, the company earned $472 million, or 54 cents a share, on revenue of $4.37 billion. Analysts expected earnings of 44 cents a share on revenue of $4.4 billion. During the year-earlier period, the company earned $320 million, or 37 cents a share, on revenue of $3.52 billion.

For the fourth quarter, Apple expects earnings of 46 cents to 48 cents a share, with revenue of $4.5 billion to $4.6 billion. Analysts project earnings of 52 cents a share on revenue of $4.95 billion. Despite the weaker-than-expected fourth-quarter guidance, Apple shares were trading up $6.75 to $60.85.

Shares of Openwave Systems(OPWV Quote) tumbled 15% after the software company warned that first-quarter revenue would be flat to modestly lower. In early July, the company said that it would post fourth-quarter revenue of $90 million to $92 million when it releases its results on Aug. 3. Analysts project first-quarter revenue of $99.6 million. Openwave also postponed its annual analyst day until November. Shares were trading down $1.06 to $6.18.