Friday's Winners & Losers: Tessera Technologies

Electronics company Tessera Technologies(TSRA Quote) rose $5.59, or 34%, to $22.09 after the U.S. International Trade Commission overturned an order in the company's wireless patent dispute with Motorola(MOT Quote), Freescale Semiconductors(FSL Quote) and Qualcomm.

Open source software company Red Hat(RHT Quote) gained $1.08, or 6.2%, to $18.60 after it beat Street expectations for the fourth quarter and raised its guidance for fiscal 2009.

Fourth-quarter revenue grew 27% to $141.5 million, coming in a little ahead of analysts' estimates of $141.1 million. Net income rose 7% to $22 million, and excluding items, EPS was 20 cents, a penny better than analysts' expectations.

One stock under pressure was Oculus Innovative Sciences(OCLS Quote), which plunged 24% after announcing an offering of up to 2.6 million shares of common stock.

Oculus said the sale proceeds of about $13.9 million will go toward general corporate purposes, working capital and operational purposes, and future acquisitions and strategic investment opportunities. The biopharmaceutical company expects the sale to close on or about April 1. Oculus shares fell $1.63 to $5.21.

Lehman analysts lowered price targets for Coventry Health Care(CVH Quote) to $53 from $67, for Health Net(HNT Quote) to $35 from $52, Cigna(CI Quote) to $50 from $61, and Aetna(AET Quote) to $53 from $68.

Coventry Health Care and Health Net were trading down 1.9% and 4.8%, respectively. While Cigna and Aetna were trading down 0.9% and 1.5%.

Las Vegas gaming company Elixir Gaming Technologies (EGT Quote) lost 16.2% to $1.91 after reporting a fourth-quarter loss of $13.3 million, or 14 cents a share, vs. a loss of $4.8 million, or 16 cents a share, in 2006. Revenue fell year over year to $2.6 million from $3.1 million. Roth Capital downgraded Elixir to hold from buy.

Noble International (NOBL Quote), an auto parts supplier, reported a widened fourth-quarter loss. The Warren, Mich.-based company lost $5 million, or 21 cents a share, vs. a loss of $2.2 million, or 16 cents a share, in the year-ago quarter. The company also slashed guidance for 2008, forecasting earnings per share of 45 cents to 55 cents, below the Street's view of $1.45. Shares hit a new 52-week low, stumbling 15.4% to $6.23.