Updated from 11:41 a.m. EDT

Shares of

NetGear

(NTGR) - Get Report

were among technology's winners Friday, rising 24.5% after the home networking-equipment maker posted first-quarter results that handily beat expectations.

The company posted adjusted earnings of $8.2 million, or 25 cents a share, on sales of $108.9 million. Analysts polled by Thomson First Call were expecting earnings of 22 cents a share on sales of $105.3 million. A year ago, the company earned $4.6 million, or 14 cents a share, on sales of $88.4 million. Looking ahead, NetGear forecast second-quarter sales of $108 million to $110 million and pro forma operating margin of 11.3% to 11.5%. Analysts had been expecting sales of $105.9 million. Shares traded up $3.17 to $16.13.

MicroStrategy

(MSTR) - Get Report

got hammered after the software company posted soft first-quarter sales. The company earned $15.1 million, or 89 cents a share, on sales of $60 million. Earnings easily topped the 72 cents a share that analysts were expecting, but investors pounded the company for not matching the $61.8 million in sales that analysts were looking for. A year ago, the company earned $10.4 million, or 60 cents a share, on sales of $49.1 million. Shares traded down $13.52, or 23.7%, to $43.48.

Shares of

Solectron

( SLR) traded actively after the electronics contract manufacturer said that it would cut about 3,500 jobs, or 6% of its workforce. The majority of the cuts will come from non-U.S. locations, the company said. In addition to the job cuts, Solectron said that it plans to consolidate about 850,000 square feet of facilities in Europe and North America. "These are difficult but necessary actions as we continue to redefine our cost structure," Solectron said. The restructuring, which should be completed by the third fiscal quarter of 2006, is expected to result in charges of between $100 million and $115 million. Shares traded up 5 cents, or 1.5%, to $3.30.

Helix Technology

( HELX) fell 11% after the company posted first-quarter earnings that fell shy of expectations. The semiconductor equipment maker earned $1.7 million, or 7 cents a share, on sales of $38.9 million. Sales of about $3.8 million during the quarter came from the company's Polycold subsidiary, which was acquired in February. Analysts were expecting earnings of 9 cents a share on sales of $37.1 million. A year ago the company earned $4.7 million, or 18 cents a share, on sales of $40.4 million. Shares traded down $1.49 to $12.05.

Shares of

SafeNet

( SFNT) rose 8.5% after the company posted a 200% jump in year-over-year first-quarter earnings and a 149% increase in sales. The information security company posted adjusted earnings of $8.1 million, or 32 cents a share, on sales of $59.8 million. Analysts were expecting earnings of 32 cents a share on sales of $58.8 million. A year ago the company earned $2.7 million, or 17 cents a share, on sales of $24 million. Looking ahead, SafeNet forecast second-quarter earnings of 32 cents to 36 cents a share on sales of $60 million to $64 million. Analysts are expecting earnings of 35 cents a share on sales of $62.1 million. Shares traded up $2.19 to $27.95.

Other technology movers included

Sun Microsystems

(SUNW) - Get Report

, up 18 cents to $3.62;

Microsoft

(MSFT) - Get Report

, up 85 cents to $25.30;

Intel

(INTC) - Get Report

, up 33 cents to $23.52;

Siebel Systems

( SEBL), up 41 cents to $9;

Cisco Systems

(CSCO) - Get Report

, up 13 cents to $17.27;

Sirius Satellite Radio

(SIRI) - Get Report

, up 3 cents to $4.76;

Oracle

(ORCL) - Get Report

, down 6 cents to $11.56; and

Lucent Technologies

( LU), down 1 cent to $2.43.