Tech Winners & Losers: BMC Software

Tech stocks pulled back Friday along with the major market indices following economic data that indicated consumer confidence fell to a 28-year low.

Shares of BMC Software(BMC Quote) rose $2.38, or 6.4%, to $38.78 after it beat analysts' expectations for the fourth quarter.

Revenue rose 11.3% to $466.9 million, topping the Street's expectations of $460.3 million. Net income jumped 54.5% to $97 million. Excluding special items, EPS was 63 cents. Analysts were looking for EPS of 51 cents.

Business software and IT services company Compuware(CPWR Quote) gained 26 cents, or 3.1%, to $8.77 after it narrowed its bottom line in the fourth quarter while benefiting from a surge in licensing revenue.

Revenue increased 8% to $338.9 million. Four analysts polled by Thomson Reuters were looking for $331.5 million. Net income was $61.2 million, or 23 cents a share, vs. $67.5 million, or 47 cents a share, a year ago.

Qualcomm(QCOM Quote) added $1.02, or 2.3%, to $46.02. Oppenheimer & Co. analyst Ittai Kidron raised his price target on the stock to $56 from $52 and reiterated his outperform rating.

As the 3G smartphone arms race escalates, Qualcomm, which makes chips, will benefit, said the analyst. Large growth funds now on the sidelines are increasingly likely to add to their positions when they see a pickup in Qualcomm's earnings, said Kidron.

LG Display(LPL Quote) shed $1.57, or 6.6%, to $22.13 after an analyst at Credit Suisse in Hong Kong downgraded the stock to neutral from outperform. He said he saw limited upside in the stock after a recent rally.