Tuesday's Tech Winners & Losers

Updated from 11:11 a.m. EDT.

Technology stocks headed higher Tuesday, helped by an impressive earnings beat by Texas Instruments(TXN Quote).

The chipmaker's shares rose 8.2% after it posted solid first-quarter results and said that second-quarter results would be better than expected. The company earned $516 million, or 35 cents a share, on revenue of $3.19 billion. Analysts polled by Thomson Financial expected earnings of 31 cents a share on revenue of $3.15 billion. During the year-earlier quarter, the company earned $585 million, or 36 cents a share, on revenue of $3.33 billion.

Looking ahead, Texas Instruments sees second-quarter earnings of 39 cents to 45 cents a share on revenue of $3.32 billion to $3.6 billion. Analysts project earnings of 37 cents a share on revenue of $3.35 billion. Shares were trading up $2.65 to $35.06.

Elsewhere, II-VI(IIVI Quote) slumped 22.4% after the technology company posted mixed third-quarter results and warned that fourth-quarter results would be below expectations. For the quarter ended March 31, the company earned $10 million, or 33 cents a share, on revenue of $67.1 million. Analysts expected earnings of 32 cents a share on revenue of $68.6 million.

Looking ahead, the company sees fourth-quarter earnings of 30 cents to 33 cents a share on revenue of $67.5 million to $69.5 million. Analysts project earnings of 36 cents a share on revenue of $73.6 million. Shares were trading down $8.10 to $27.98.

Meanwhile, shares of Ultra Clean Holdings(UCTT Quote) tumbled 18.1% after the semiconductor capital equipment supplier posted disappointing first-quarter earnings and warned that second-quarter results would be below forecasts. The company earned $5.2 million, or 24 cents a share, on revenue of $110.8 million. Analysts expected earnings of 27 cents a share on revenue of $108 million. During the year-earlier quarter, the company earned $4.7 million, or 22 cents a share, on revenue of $57.2 million.

Looking ahead, Ultra Clean sees second-quarter earnings of 20 cents to 26 cents a share on revenue of $100 million to $110 million. Analysts project earnings of 29 cents a share on revenue of $111.4 million. Shares were trading down $3.54 to $16.06.