Tech Winners & Losers: Activision

Shares of Priceline.com(PCLN Quote) added $17.22, or 14.4%, to $141.65 after it beat Street expectations for the first quarter on the strength of travel bookings and international revenue. It also offered strong outlook for the current quarter.

Quest Software(QSFT Quote) was up $1.06, or 7.7%, to $14.89 after the company beat estimates for the first quarter, altthough it posted lower earnings from a year earlier. Revenue grew 15% in the quarter to $172.8 million, and was higher than analysts' estimates of $165.2 million, but net income fell 10.7% to $13.3 million. Excluding special items, EPS was 21 cents. Analysts were looking for 19 cents.

Chipmaker Nvidia(NVDA Quote) gained 95 cents, or 4.4%, to $22.92 after it grew its bottom line 33% in the first quarter, although it fell short of Wall Street estimates. But analysts at Stifel Nicolaus and Canaccord Adams upgraded the stock to buy from sell on Friday, on the belief that the stock appears undervalued given that the PC supply chain has improved and the company's manufacturing partners are showing greater stability. This should translate into better demand for Nvidia's products say the analysts.

Cogent Communications(CCOI Quote) shed $4.52, or 19.9%, to $18.19 after the company missed first-quarter EPS estimates by 3 cents, though revenue was in line with expectations. Cogent reported a loss of 21 cents a share on revenue of $52.1 million.