Updated from 1 p.m. EST

Shares of

Finisar

(FNSR) - Get Report

were among the best-performing technology stocks Friday, rising 18.6% after the company posted second-quarter results that beat expectations.

Excluding items, the network equipment company lost $10.9 million, or 5 cents a share, on sales of $71 million. Analysts polled by Thomson First Call were expecting a loss of 6 cents a share on sales of $67.4 million. During last year's second quarter, Finisar posted a loss of $13.4 million, or 6 cents a share, on sales of $42.8 million. Strong sales of network test and monitoring systems contributed to the better than expected results. Shares traded up 34 cents to $2.17.

Gemstar-TV Guide

(GMST)

rose 8.2% after the company named Rich Battista as its new chief executive. Battista, who most recently worked as executive vice president at

Fox Entertainment Group

(FOX) - Get Report

, will replace Jeff Shell, who resigned. Shell agreed to remain with the company during a transition period. Shares traded up 44 cents to $5.84.

Shares of

Seagate Technology

(STX) - Get Report

fell 1.4% after computer hard-drive maker said that its largest shareholder will sell 30 million shares of Seagate stock as part of a forward equity sale agreement, which is scheduled to begin today and be completed by early January. Seagate said that it would not receive any proceeds from the sale. Shares traded down 24 cents to $16.70.

Despite getting an upgrade by CSFB, shares of

Ciena

(CIEN) - Get Report

fell 1% on Friday. The firm said that better visibility and the stock's risk/reward profile led it to upgrade shares to neutral from underperform. The upgrade comes just a day after Ciena turned in better-than-expected fourth-quarter financial results and predicted that its first-quarter sales would grow by 7% to 10% sequentially. Shares traded down 3 cents to $2.85.

Shares of

HouseValues

(SOLD)

rose 4.9% on its first day of trading as a public company. The company, which generates real estate leads for agents through its Web sites, priced 6.25 million shares at $15 apiece, raising about $93 million. The pricing came in at the high end of its recently revised price range. On Wednesday, the company raised the price range to $13 to $15 a share from $10 to $12 a share. Credit Suisse First Boston and JP Morgan Securities led the underwriting syndicate. Shares traded up 74 cents to $15.74.

Other technology-volume leaders included

Sirius Satellite Radio

(SIRI) - Get Report

, up 42 cents to $7.59;

Intel

(INTC) - Get Report

, down 20 cents to $22.56;

Microsoft

(MSFT) - Get Report

, down 15 cents to $27.08;

Nextel Communications

(NXTL)

, down 5 cents to $29.76; and

Lucent

(LU)

, down 4 cents to $3.80.