Updated from 12:46 p.m. EDT

Shares of

Check Point Software

(CHKP) - Get Report

were among the best-performing technology stocks Monday, rising 17.8% after the company posted third-quarter earnings that beat expectations and said its fourth quarter would top Wall Street forecasts as well.

Excluding acquisition charges, the Internet security company earned 27 cents a share during the third quarter on sales of $129.3 million. Analysts were expecting earnings of 25 cents a share on sales of $128.3 million. Looking ahead, the company expects fourth-quarter earnings of 28 cents to 29 cents a share on sales of $136 million to $144 million. Analysts had been expecting earnings of 27 cents a share on sales of $140.3 million. Shares traded up $3.18 to $21.10.

Taser International

(TASR)

rose 1.6% after a Department of Defense study concluded that Taser's stun-gun technology "is generally effective without significant risk of unintended results." According to Taser, the report concluded that its technology "is not likely the primary factor in the cause of in-custody fatalities." The announcement comes just a day before Taser releases its third-quarter earnings. Analysts are looking for earnings of 15 cents a share on sales of $18.1 million. Shares traded up 60 cents to $38.07.

Shares of

InterWave Communications

(IWAV)

rose 58.1% after the company and

Alvarion

(ALVR)

announced an amendment to their merger agreement. The agreement now calls for Alvarion to acquire InterWave for $40.5 million, or $4.18 a share, in cash. The agreement also calls for InterWave to dismiss its lawsuit against Alvarion.

In late September, Alvarion said it was unwilling to go forward with the deal, because InterWave had "experienced a material adverse effect with respect to its business." However, Alvarion said it would be willing to discuss concluding a transaction on different terms. InterWave "strongly and vehemently" disagreed with Alvarion's position and sued the company. In July, InterWave had agreed to be acquired by Alvarion for $56 million in cash, or $5.75 a share. Shares of InterWave traded up $1.43 to $3.89.

Sirius Satellite Radio

(SIRI) - Get Report

rose 3% after

Ford

(F) - Get Report

announced that it would be expanding its dealer-installed option of Sirius radios in up to 20 Ford, Lincoln and Mercury vehicle lines over the next two years. Ford currently offers Sirius radios as an option in nine vehicle models. Shares of Sirius traded up 11 cents to $3.81.

Shares of

JDA Software

(JDAS)

rose 0.6% after the software maker was selected by

Sears, Roebuck

(S) - Get Report

to provide merchandise management software for its 2,300 stores. Financial terms were not disclosed. Shares traded up 7 cents to $11.05.

Other technology volume leaders included

Isonics

(ISON)

, up $2.11 to $5.48;

Intel

(INTC) - Get Report

, up 18 cents to $20.79;

Microsoft

(MSFT) - Get Report

, up 42 cents to $28.41;

Cisco

(CSCO) - Get Report

, up 17 cents to $18.65; and

Lucent

(LU)

, unchanged at $3.50.