Shares of

Cbeyond

(CBEY)

were among technology's winners Friday, vaulting 23% after the telecom services company posted second-quarter results that beat expectations.

The company earned $1.4 million, or 5 cents a share, on revenue of $52.5 million. Analysts polled by Thomson First Call expected a loss of a penny a share on revenue of $50.4 million. A year earlier, Cbeyond reported a loss of $3.4 million, or $21.96 a share, on revenue of $38.2 million.

Looking ahead, Cbeyond now sees full-year adjusted earnings before interest, taxes, depreciation and amortization of at least $32 million on revenue of at least $212 million. Previously, the company projected adjusted EBITDA of at least $30 million and revenue of at least $206 million. Shares were trading up $4.11 to $22.01.

Leap Wireless

(LEAP)

jumped 8% after the wireless communications company posted an unexpected second-quarter profit. The company earned $7.5 million, or 12 cents a share, besting analysts' forecast for a loss of 3 cents a share. Leap Wireless recorded revenue of $267.9 million, slightly shy of Wall Street's projection of $271.4 million. During the year-earlier period, the company earned $1.1 million, or 2 cents a share, on revenue of $226.8 million. Shares were trading up $3.42 to $42.29.

Shares of

Anaren

(ANEN)

soared 18% after the maker of microwave signal distribution networks and components reported big gains in fourth-quarter results. For the period ended June 30, the company earned $4.4 million, or 24 cents a share, on revenue of $29.1 million. Two analysts polled by Thomson First Call had an average estimate for earnings per share of 21 cents. A year earlier, Anaren earned $2.6 million, or 14 cents a share, on revenue of $24.1 million. "The growth in net sales for the quarter was driven by both the wireless and space and defense business groups," the company said.

Anaren projects fiscal first-quarter earnings of 20 cents to 24 cents a share, in line with the analyst estimate of 22 cents. The company targets revenue of $27.5 million to $29.5 million, above Wall Street's target of $27.2 million. Shares were adding $3.12 to $20.79.

Oplink Communications

(OPLK)

jumped 11% after the telecom-equipment company reported better-than-expected fourth-quarter results and gave a guidance above Wall Street's current forecast. For the period ended June 30, the company earned $868,000, or 4 cents a share, on revenue of $16.9 million. Excluding items, earnings were $2.7 million, or 12 cents a share. Analysts expected a profit of 11 cents a share and revenue of $16.3 million. During the year-earlier quarter, the company posted adjusted earnings of $1.2 million, or 6 cents a share, on revenue of $8.9 million. "We are pleased to report strong revenue growth and improved profitability for the fourth quarter and for the first time in our corporate history a profitable fiscal year," the company said.

Looking ahead, Oplink sees first-quarter adjusted earnings of 13 cents to 14 cents a share. The company predicts sequential revenue growth of 10% to 12%, or revenue of $18.6 million to $18.9 million. Analysts had forecast earnings of 12 cents a share, with revenue of $17.2 million. Oplink shares were up $1.59 to $16.40.

Shares of

WebSideStory

(WSSI)

slid 11% after the provider of on-demand Web analytics posted disappointing second-quarter earnings. The company reported a loss of $2.4 million, or 13 cents a share, on revenue of $15.2 million. Excluding items, earnings were 10 cents a share on pro forma revenue of $16.8 million. Analysts anticipated earnings of 12 cents a share and revenue of $16 million. During the year-earlier quarter, the company earned $1.3 million, or 7 cents a share, on revenue of $9.4 million.

WebSideStory forecast third-quarter adjusted earnings of 13 cents to 14 cents a share and pro forma revenue of $17.9 million to $18.5 million. Analysts project earnings of 13 cents a share, with revenue of $17.5 million. Shares were trading down $1.25 to $10.33.

Shares of

Gateway

(GTW)

fell 13% after the computer maker posted a loss for the second quarter. Gateway recorded a loss of $7.7 million, or 2 cents a share, on $919 million in revenue. A year-earlier, the company reported a profit of $17.2 million, or 5 cents a share, and revenue of $873 million. Analysts expected earnings of 2 cents a share, with $1 billion in revenue. Shares recently were down 20 cents to $1.39.

Other technology movers included

Sun Microsystems

(SUNW) - Get Report

, up 13 cents to $4.48;

Apple Computer

(AAPL) - Get Report

, down $3.34 to $66.25;

Lucent Technologies

(TU) - Get Report

, up 3 cents to $2.12;

Cisco Systems

(CSCO) - Get Report

, down 10 cents to $17.46;

Intel

(INTC) - Get Report

, up 27 cents to $17.60;

Oracle

(ORCL) - Get Report

, down 13 cents to $14.64;

Microsoft

(MSFT) - Get Report

, up 26 cents to $24.47;

JDSU

(JDSU)

, up 7 cents to $2.20;

Applied Micro

(AMCC)

, up 20 cents to $2.58;

Level 3 Communications

(LVLT)

, up 1 cent to $3.65; and

Sirius Satellite Radio

(SIRI) - Get Report

, up 7 cents to $4.03.