Friday's Tech Winners & Losers

Updated from 12:06 p.m. EDT

Technology stocks moved higher Friday following merger activity in the online advertising space and earnings-related news.

aQuantive (AQNT Quote) shot up 77.8% after the online advertising firm agreed to be acquired by Microsoft(MSFT Quote) for about $6 billion, or $66.50 a share, in cash.

The price represents a premium of more than 80% to aQuantive's closing price of $35.87 on Thursday. The acquisition comes just a day after the WPP Group(WPPGY Quote), a marketing and advertising firm, agreed to buy 24/7 Real Media(TFSM Quote).

Microsoft's acquisition is seen as an attempt to keep pace with Google(GOOG Quote), which last month agreed to acquire DoubleClick for some $3.1 billion.

The deal is expected to close during the first half of Microsoft's fiscal 2008. Shares of aQuantive closed up $27.92 to $63.79, while shares of Microsoft were down 15 cents to $30.83.

Elsewhere, Intuit(INTU Quote) jumped 13.9% after the software firm posted third-quarter results that topped forecasts. The company earned $367.2 million, or $1.04 a share, on revenue of $1.15 billion. Excluding items, the company earned $399.1 million, or $1.13 a share.

Analysts polled by Thomson Financial expected earnings of $1.08 a share on revenue of $1.12 billion. During the year-earlier quarter, Intuit posted adjusted earnings of $318.3 million, or 89 cents a share, on revenue of $952.6 million. Shares closed up $3.84 to $31.56.

Meanwhile, CalAmp (CAMP Quote) plunged 38% after the wireless-equipment provider posted a smaller fourth-quarter profit and warned that it would have a first-quarter loss. The company earned $732,000, or 3 cents a share, on revenue of $57 million. During the year-earlier quarter, the company earned $3.5 million, or 15 cents a share, on revenue of $47.8 million.

Looking ahead, CalAmp sees a first-quarter loss of 6 cents to 9 cents a share on revenue of $44 million to $47 million. Shares closed down $2.97 to $4.85.