Tuesday's Tech Winners & Losers

Shares of Brocade Communications(BRCD Quote) were among technology's winners Tuesday, rising 5.1% after the data-storage company posted better-than-expected fiscal first-quarter results and gave a solid guidance for the second quarter.

For the quarter ended Jan. 27, the company earned $33.3 million, or 12 cents a share, on revenue of $224.2 million. Excluding items, the company earned $49.4 million, or 17 cents a share. Analysts polled by Thomson First Call expected earnings of 13 cents a share, before items, on revenue of $214.8 million. During the year-earlier period, Brocade recorded an adjusted profit of $25.9 million, or 10 cents a share, on revenue of $170.1 million.

Looking ahead, Brocade forecasts second-quarter adjusted earnings of 8 cents to 10 cents a share, with revenue of $335 million to $350 million. Analysts project earnings of 8 cents a share and a top line of $336.5 million. Shares were trading up 44 cents to $9.13.

Applied Signal Technology(APSG Quote) rose 1.5% after the maker of digital-signal processing equipment reported fiscal first-quarter earnings that beat expectations. For the quarter ended Feb. 2, the company earned $1.9 million, or 15 cents a share, on revenue of $43.5 million. Analysts projected earnings of 10 cents a share and revenue of $34.4 million. During the year-earlier quarter, the company earned $1.3 million, or 11 cents a share, on revenue of $33.6 million. Shares were trading up 24 cents to $15.84.