Shares of

Centennial Communications

( CYCL) were among technology's winners Monday, rising 18% after the wireless communications services company said it is exploring strategic alternatives.

The company said it has hired Lehman Brothers and Evercore Partners to help it in "evaluating a range of possible strategic and financial alternatives." Prior to the announcement, shares had climbed about 54% during the year. Shares were recently trading up $2.17 to $14.39.

Peregrine Systems

(PRGN)

rose 33% after the software company agreed to be acquired by

Hewlett-Packard

(HPQ) - Get Report

for about $425 million. Peregrine shareholders will receive $26.08 a share in cash, representing a premium of 37% to Friday's closing price of $19.10. Peregrine will be integrated into HP's OpenView business unit once the deal closes. "Peregrine will help HP deliver a more complete management software solution to CIOs and enhance their ability to manage their IT assets," HP said. The acquisition is expected to close during the first quarter of 2006. Shares of Peregrine were trading up $6.30 to $25.40.

Shares of

Verint Systems

(VRNT) - Get Report

traded actively after the company received a multi-million dollar order from a new U.S. wireless communications company. The deal with the unnamed company calls for Verint to deliver its Ultra software suite to the customer, which will be deploying the system across more than 15 contact centers. Shares were recently trading down 11 cents to $39.70.

Sirius Satellite Radio

(SIRI) - Get Report

fell 3% after the company forecast 2005 sales that fell below expectations. The company now expects sales of $230 million, up from previous guidance of $225 million. Analysts polled by Thomson First Call, however, are expecting sales of $234.5 million. Sirius also reiterated its full-year outlook for 3 million subscribers. As of Sept. 15, the company had slightly less than 2.1 million subscribers. Shares were trading down 25 cents to $6.80.

Shares of

Avaya

(AV)

fell 4% after the company said that it would acquire privately held Nimcat Networks for about $46 million Canadian dollars. The acquisition is expected to cut Avaya's fourth-quarter earnings by about a penny share. Avaya said the cut to earnings would be caused by about $3.2 million of in-process research and development costs. Shares were recently trading down 40 cents to $9.62.

Other technology movers included

Microsoft

(MSFT) - Get Report

, up 6 cents to $26.13;

Cisco

(CSCO) - Get Report

, down 34 cents to $18.08;

Siebel Systems

( SEBL), down 2 cents to $10.28;

Intel

(INTC) - Get Report

, down 20 cents to $24.61;

Oracle

(ORCL) - Get Report

, down 5 cents to $13.20;

Lucent Technologies

( LU), down 6 cents to $3.02;

Apple Computer

(AAPL) - Get Report

, up $1.32 to $52.53; and

Sun Microsystems

(SUNW) - Get Report

, down 10 cents to $3.92.