Updated from 1:12 p.m.

Shares of

Terayon Communication Systems

( TERN) were among technology's winners Wednesday, rising 12.4% after the provider of digital networking video applications posted a narrower-than-expected first-quarter loss.

The company posted a loss of $2.6 million, or 3 cents a share, on sales of $26.4 million. Analysts polled by Thomson First Call were expecting a loss of 4 cents a share on sales of $27.9 million. A year ago the company posted a loss of $10.2 million, or 14 cents a share, on sales of $41.2 million. During the most recent quarter, sales from the company's digital video networking applications product line rose more than 100% to $13 million. "We are pleased with our first-quarter results and our progress in moving digital video to the center of our corporate strategy," the company said.

Looking ahead, Terayon forecast second-quarter sales of $28 million to $32 million. Earnings are expected to range from break even to a loss of 4 cents a share. Digital video sales are expected to range from $16 million to $19 million. Analysts are expecting a second-quarter loss of 2 cents a share on total sales of $29.5 million. Shares traded up 34 cents to $3.09.

Jupitermedia

( JUPM) rose 21.1% after the provider of online information, images, research and events for information-technology professionals posted first-quarter earnings and sales that were above expectations. The company earned $5.5 million, or 16 cents a share, on sales of $25 million. Excluding results from Dynamic Graphics Group, which the company acquired in March, the company would have earned $5.2 million, or 15 cents a share, on sales of $21.6 million. Analysts were expecting earnings of 14 cents a share on sales of $20.9 million. A year ago the company earned $1.6 million, or 6 cents a share, on sales of $14.4 million. Looking ahead, Jupitermedia forecast second-quarter earnings of 19 cents a share on sales of $32.5 million to $33.5 million. Analysts are expecting earnings of 19 cents a share on sales of $28.9 million. Shares traded up $2.76 to $15.85.

Shares of

aQuantive

( AQNT) rose 17.9% after the digital marketing services company posted first-quarter results that easily topped expectations. The company earned $6.4 million, or 9 cents a share, on sales of $65 million. Analysts were expecting earnings of 5 cents a share on sales of $57.7 million. A year ago the company earned $4.1 million, or 6 cents a share, on sales of $22.6 million. Looking ahead, aQuantive forecast second-quarter earnings of 8 cents to 10 cents a share on sales of $65 million to $70 million. Analysts had been expecting earnings of 7 cents a share on sales of $62.8 million. Shares traded up $1.91 to $12.61.

InterDigital Communications

(IDCC) - Get Report

fell 15.8% after the company said that it named William Merritt as chief executive, effective immediately. Merritt will replace Howard Goldberg, who, after 12 years at the company, said that he is leaving to pursue other interests. Merritt most recently served as president of InterDigital Technology, the company's intellectual property subsidiary. The company also announced the departure of its chief operating officer, Charles Tilden, who is leaving to pursue other opportunities. InterDigital said that it does not anticipate filling that post. Shares traded down $2.70 to $14.35.

Shares of

Zebra Technologies

(ZBRA) - Get Report

fell 7.3% after the company posted first-quarter results that missed expectations by a wide margin. The bar-code printer company earned $27.1 million, or 37 cents a share, on sales of $170.7 million. Analysts were expecting earnings of 44 cents a share on sales of $177.5 million. A year ago the company earned $27.9 million, or 39 cents a share, on sales of $154.2 million. Results were hurt by an order slowdown, including order deferrals, and distribution capacity constraints in Europe, which occurred toward the end of the quarter. Looking ahead, Zebra forecast second-quarter earnings of 43 cents to 48 cents a share -- in line with estimates -- on sales of $177 million to $187 million, which is in line with analysts' expectations of $186.2 million in sales. Shares traded down $3.32 to $42.03.

Other technology movers included

Microsoft

TST Recommends

(MSFT) - Get Report

, down 15 cents to $25.21;

Cisco Systems

(CSCO) - Get Report

, up 34 cents to $17.65;

Lucent Technologies

( LU), up 14 cents to $2.64;

Intel

(INTC) - Get Report

, up 36 cents to $24.11;

Siebel Systems

( SEBL), up 3 cents to $9.53;

Sirius Satellite Radio

(SIRI) - Get Report

, up 17 cents to $5.23;

Oracle

(ORCL) - Get Report

, up 13 cents to $11.72; and

eBay

(EBAY) - Get Report

, up $2.30 to $34.47.