Tech Stocks in Motion

Blue Cost Systems surges.
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Updated from 1:54 p.m. EDT

Shares of

Blue Coat Systems

(BCSI)

were among technology's winners Friday, rising 25.4% after the company posted fourth-quarter results that were better than expected and said that first-quarter results would also be better than expected.

The software maker earned $2.8 million, or 21 cents a share, on sales of $28.4 million. Excluding items, the company would have earned $2.3 million, or 17 cents a share. Analysts surveyed by Thomson First Call were expecting earnings of 15 cents a share on sales of $27.9 million. A year ago, the company posted pro forma earnings of $2.6 million, or 20 cents a share, on sales of $21.1 million.

Looking ahead, Blue Coat forecast first-quarter earnings of $2.3 million to $3.1 million, or 17 cents to 22 cents a share, which excludes items, on sequential sales growth of 12% to 15%. Analysts are expecting earnings of 14 cents a share on sales of $27.9 million. Shares traded up $5.06 to $25.01.

Cognos

(COGN)

fell 7.6% after the software maker warned that first-quarter earnings and sales would be below expectations. The company now expects earnings of 21 cents to 23 cents a share on sales of $198 million to $200 million. Previously, the company forecast earnings of 22 cents to 25 cents a share on sales of $202 million to $210 million. Analysts had been expecting earnings of 25 cents a share on sales of $207.8 million. During last year's first quarter, the company earned 22 cents a share on sales of $173.6 million. Cognos said its sales performance was hurt by closing fewer larger deals late in the quarter and -- to a lesser extent -- by a stronger U.S. dollar. The company expects to report its full results on June 23. Shares traded down $2.81 to $34.40.

Shares of

Chartered Semiconductor Manufacturing

(CHRT)

fell 0.4% after the company said it expects its second-quarter loss to be at the low end of its previously issued guidance. Sales, meanwhile, are now expected to be at the high end of previous guidance. In April, the company said that it would post a loss of $78 million to $88 million, or 31 cents to 35 cents a share, on sales of $189 million to $197 million. Analysts are expecting a loss of 32 cents a share on sales of $202.5 million. Shares traded down 3 cents to $7.26.

VeriFone Holdings

(PAY)

rose 19.1% after the company posted big gains in second-quarter earnings and sales. The electronic payment technologies company, which went public in May, posted earnings of $8.8 million, or 15 cents a share, on sales of $117.9 million. Excluding items, the company would have earned $12.3 million, or 22 cents a share. A year ago, the company posted pro forma earnings of $6.2 million, or 11 cents a share, on sales of $89.5 million. During the most recent period, VeriFone's international segment notched a 68% increase in sales while North American sales jumped 16%. Shares traded up $2.56 to $15.95.

Shares of

Applied Micro Circuits

(AMCC)

fell 2.4 after the company announced the resignation of its chief operating officer. Thomas Tullie will leave the company on June 17. "I believe this is the right time for me to move on," Tullie said. "Our recent acquisitions have been integrated, and the restructuring announced in November is complete." The company said it has no plans to fill the vacancy created by Tullie's departure. Shares traded down 7 cents to $2.91.

Other technology movers included

Microsoft

(MSFT) - Get Report

, down 36 cents to $25.43;

Sun Microsystems

(SUNW) - Get Report

, down 13 cents to $3.66;

Cisco Systems

(CSCO) - Get Report

, down 48 cents to $19.40;

Intel

(INTC) - Get Report

, down 26 cents to $27.33;

Oracle

(ORCL) - Get Report

, down 39 cents to $12.59;

Apple Computer

(AAPL) - Get Report

, down $1.80 to $38.24;

Sirius Satellite Radio

(SIRI) - Get Report

, unchanged at $6; and

Lucent Technologies

(LU)

, up 3 cents to $2.84.