Wednesday's Tech Winners & Losers

Updated from 12:11 p.m. EDT

Tech stocks were up modestly Wednesday, though several companies were jumping higher on merger and earnings news.

Andrew(ANDW Quote) jumped 10.9% after the telecom supplier agreed to be acquired by CommScope(CTV Quote) for about $2.6 billion, or $15 a share. The deal represents a 16% premium to Andrew's closing price of $12.98 on Tuesday. The deal, which will consist of at least 90% cash, is expected to close by the end of the year. Shares of Andrew closed up $1.42 to $14.40.

Elsewhere, Spectrum Control(SPEC Quote) climbed 17.8% after the maker of electronic products posted a second-quarter profit that impressed investors. The company earned $2.8 million, or 20 cents a share, on revenue of $33.6 million. The single-analyst forecast compiled by Thomson Financial called for earnings of 18 cents a share.

Looking ahead, Spectrum sees third-quarter earnings of 22 cents to 23 cents a share on revenue of $34.5 million to $35.5 million. Shares were up $2.47 to $16.34.

Meanwhile, Standard Microsystems(SMSC Quote) rose 9.4% after the chipmaker posted first-quarter results that topped Wall Street's forecast. The company posted adjusted earnings of $7 million, or 29 cents a share, on revenue of $81.5 million. Analysts expected earnings of 25 cents a share on revenue of $81 million.

Looking ahead, Standard Microsystems sees second-quarter adjusted earnings of 37 cents to 40 cents a share on revenue of $88 million to $90 million. Analysts project earnings of 39 cents a share on revenue of $89.9 million. Shares were up $3.04 to $35.29.