Thursday's Tech Winners & Losers

Merger news nudged tech stocks such as Covansys higher.
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Updated from 11:06 a.m. EDT

Merger activity and earnings news moved technology stocks higher Thursday.

Covansys

(CVNS)

soared 24.2% after the information-technology services company agreed to be acquired by

Computers Sciences

(CSC)

for about $1.3 billion, or $34 a share in cash. "With this action, we are significantly strengthening our capabilities and presence in India as well as creating an additional market channel for our industry, consulting and outsourcing solutions," Computer Sciences said. The deal is expected to close during Computer Sciences' second quarter. Covansys shares closed up $6.49 to $33.29.

Elsewhere,

Xilinx

(XLNX) - Get Report

rose 3.4% after the chipmaker posted better-than-expected fourth-quarter results. For the quarter ended March 31, the company earned $87.6 million, or 27 cents a share, on revenue of $443.5 million. Analysts polled by Thomson Financial expected earnings of 23 cents a share on revenue of $441.3 million. During the year-earlier quarter, the company earned $110.7 million, or 32 cents a share, on revenue of $472.3 million.

Looking ahead, Xilinx sees a sequential revenue gain of 1% to 5%, which would result in revenue of about $448 million to $466 million during the first quarter. Analysts project revenue of $453.5 million. Shares closed up 98 cents to $30.18.

Also climbing was

F5 Networks

(FFIV) - Get Report

, which posted second-quarter results that topped forecasts. Shares jumped 21% after the software company posted earnings of $20 million, or 47 cents a share, on revenue of $127.6 million. Analysts expected earnings of 45 cents a share on revenue of $125.5 million. During the year-earlier quarter, the company earned $16.1 million, or 39 cents a share, on revenue of $94.1 million.

Looking ahead, F5 Networks sees third-quarter earnings of 48 cents to 50 cents a share on revenue of $131 million to $133 million. Analysts project earnings of 48 cents a share on revenue of $130.8 million. Shares closed up $13.86 to $79.93.

Meanwhile,

Bottomline Technologies

(EPAY) - Get Report

jumped 12.8% after the payment-software company reported third-quarter results that were better than expected. For the quarter ended March 31, the company reported adjusted earnings of $2.8 million, or 12 cents a share, on revenue of $31.1 million. Analysts expected earnings of 10 cents a share on revenue of $30 million. During the year-earlier quarter, the company earned $1.3 million, or 5 cents a share, on revenue of $24.9 million. Shares closed up $1.44 to $12.67.

Shares of

Symyx Technologies

(SMMX)

tumbled 32.6% after the research software company posted a smaller-than-expected first-quarter loss but slashed full-year guidance. The company reported a loss of $972,000, or 3 cents a share, on revenue of $25 million. Excluding items, the company lost a penny a share. Analysts expected a loss of 3 cents a share on revenue of $25 million. During the year-earlier quarter, the company earned $1.7 million, or 5 cents a share, on revenue of $27.1 million.

Looking ahead, the company now sees an adjusted full-year profit of 4 cents to 14 cents a share on revenue of $110 million to $120 million. Previously, the company said that it would post a profit of 40 cents to 45 cents a share on revenue of $133 million to $140 million. Analysts project earnings of 41 cents a share on revenue of $137.2 million. Shares closed down $5.80 to $12.

As for the broader technology sector, the Nasdaq 100 traded up about 8 points to 1889.57.

Other technology movers included

Apple

(AAPL) - Get Report

, up $3.49 to $98.84;

Level 3 Communications

(LVLT)

, down 45 cents to $5.73;

Sun Microsystems

(SUNW) - Get Report

, down 2 cents to $5.25;

Microsoft

(MSFT) - Get Report

, up 11 cents to $29.10;

Cisco Systems

(CSCO) - Get Report

, down 23 cents to $26.55;

Sirius Satellite Radio

(SIRI) - Get Report

, up 13 cents to $2.96; and

Intel

(INTC) - Get Report

, down 217cents to $22.09.