Wednesday's Tech Winners & Losers

Updated from 12:36 p.m. EDT

Tech stocks were on the rise Wednesday, boosted by solid earnings and analyst upgrades.

Navteq(NVT Quote - Cramer on NVT - Stock Picks) climbed 16.9% after the business software firm posted solid profit gains after the prior bell. The company reported net second-quarter income of $40.9 million, or 41 cents a share, compared to $23.8 million, or 25 cents a share, in the year-ago period.

The company also upped its full-year guidance. It now expects revenue of $780 million to $795 million and earnings per diluted share of $1.45 to $1.50. Analysts polled by Thomson Financial expect revenue of $747.8 million and earnings of $1.33 a share. Shares closed up $9.16 to $63.29.

FiberTower(FTWR Quote - Cramer on FTWR - Stock Picks) jumped 17.1% after announcing an agreement with Sprint Nextel(S Quote - Cramer on S - Stock Picks) to provide backhaul services in seven of the company's initial WiMax launch markets. Sprint plans to roll out the service by the end of the year, followed by a rollout to almost 100 million customers by the end of 2008. Terms of the agreement with FiberTower were not disclosed. Shares gained 60 cents to $4.12.

Disc drive component maker Hutchinson Technology(HTCH Quote - Cramer on HTCH - Stock Picks) jumped 11.3% after being upgraded by three firms following a solid earnings report. Needham & Co. and WR Hambrecht both upgraded the stock to buy from hold, and Brean Murray upgraded it to hold from sell. Hutchinson gained $2.26 to $22.32.

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