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Tech Stocks in Motion

Antenna maker Phazar soars 50% after posting higher second-quarter results.

Shares of



were among the winners of technology stocks Friday, soaring 50% after the antenna maker posted big gains in second-quarter earnings and sales.

For the quarter ended Nov. 30, the company earned $699,000, or 30 cents a share, on sales of $3.8 million. During the year-earnings period, the company earned $505,000, or 21 cents a share, on sales of $3.3 million. Shares recently were trading up $5.23 to $15.75.

Lucent Technologies


fell 3% after the telecom equipment maker cut its 2006 sales forecast and projected first-quarter sales below Wall Street's estimate. The company now says that 2006 sales growth likely will be flat to up in the low-single-digit range. Previously, the company predicted sales would rise in the mid-single-digit range. For the first quarter, Lucent sees sales of about $2.05 billion, down from fourth-quarter sales of $2.43 billion. Analysts polled by Thomson First Call had been projecting first-quarter sales of $2.44 billion and full-year sales of about $10 billion. Lucent blamed the sales shortfall on lower sales in the U.S. and China. "While we are clearly disappointed, we consider this to be a temporary setback to the progress we have made, and we are confident that our performance will be much stronger for the remainder of the year," the company said.

Separately, Lucent said it named Frank D'Amelio chief operating officer. D'Amelio, who currently serves as chief financial officer, will continue to serve in his CFO capacity until a replacement is found. In his new role, D'Amelio will be in charge of overseeing sales, the products groups, the service business, the supply chain, IT operations and labor relations, the company said. Shares of Lucent were recently trading down 9 cents to $2.62.

Shares of

Arrowhead Research

(ARWR) - Get Arrowhead Pharmaceuticals, Inc. Report

fell 4% after the nanotechnology concern said it plans to sell about 5.6 million shares of restricted stock to York Capital Management and Knott Partners for about $19.6 million, or $3.50 a share. The sale price represents a 25% discount to Thursday's closing price of $4.67. "This capital infusion enables Arrowhead to expand its existing subsidiaries and make additional strategic investments and acquisitions, as appropriate," Arrowhead said. Shares were trading down 18 cents to $4.49.



jumped 11% after the maker of liquid crystal on silicon microdisplays agreed to sell 1.3 million shares in a private placement. The company expects to sell the shares for $2.62 apiece, resulting in gross proceeds of about $3.4 million. "This capital infusion will further enable our execution of ramp up in manufacturing of our 1080p LcoS sets at this exciting time," SpatiaLight said. Shares recently were up 29 cents to $2.90.

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Shares of

Advanced Micro Devices

(AMD) - Get Advanced Micro Devices, Inc. Report

slipped 4% after Deutsche Bank downgraded shares of the company to sell from hold. The firm expects increased competition from


(INTC) - Get Intel Corporation Report

to slow the company's momentum after the fourth quarter. Deutsche Bank slapped a 12-month price target of $26 on the stock. AMD shares were trading down $1.43 to $33.92.

Other technology movers Friday included

Sun Microsystems

(SUNW) - Get Sunworks, Inc. Report

, up 35 cents to $4.75;



, up 17 cents to $2.96;

Sirius Satellite Radio

(SIRI) - Get Sirius XM Holdings, Inc. Report

, up 8 cents to $6.28;


(CSCO) - Get Cisco Systems, Inc. Report

, unchanged at $19.20;

Applied Materials

(AMAT) - Get Applied Materials, Inc. Report

, down 65 cents to $20.17;


(MSFT) - Get Microsoft Corporation Report

, down 1 cent to $27.13;

Conexant Systems

(CNXT) - Get VanEck Vectors ChinaAMC SME-ChiNext ETF Report

, down 8 cents to $3.21;


(INTC) - Get Intel Corporation Report

, up 2 cents to $25.99;

Apple Computer

(AAPL) - Get Apple Inc. Report

, up 81 cents to $85.10; and


(ORCL) - Get Oracle Corporation Report

, down 9 cents to $12.43.