Today's Tech Winners and Losers

Finisar and VeriFone advance after their earnings reports.
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Shares of

Finisar

(FNSR) - Get Report

were among technology's winners Friday, soaring 39% after the network-equipment maker posted better-than-expected third-quarter results.

The company earned $8.3 million, or 3 cents a share, on revenue of $93.5 million. Excluding items, the company earned $7.7 million, or 3 cents a share. Analysts polled by Thomson First Call expected break-even earnings on revenue of $90.2 million. A year earlier, the company had a loss of $33 million, or 15 cents a share, on revenue of $73.1 million. Excluding items, the fiber-optics company recorded a loss of $7.9 million, or 4 cents a share, during the year-earlier quarter.

"While our march to profitability has been a long and arduous path, we have remained steadfast in our commitment to delivering value to customers through focused R&D, in-house manufacturing and vertical integration," Finisar said. Shares were trading up $1.14 to $4.05.

Intel

(INTC) - Get Report

fell 2% after the chipmaker cut its first-quarter sales forecast. The company now sees sales of $8.7 billion to $9.1 billion, down from an earlier view of $9.1 billion to $9.7 billion. Analysts project sales of $9.42 billion. The company blamed the shortfall on weaker-than-expected demand and a small market-share loss. Intel doesn't give earnings guidance; analysts project earnings of 27 cents a share. Shares recently were trading down 40 cents to $20.09, after reaching a 52-week low of $19.86 earlier in the session.

Shares of

Iowa Telecommunications

(IWA)

rose 2% after the telecom company reported better-than-expected fourth-quarter results. The company earned $11.6 million, or 36 cents a share, reversing a year-earlier loss of $16.7 million, or 64 cents share, that included several charges. Revenue rose to $58.2 million from $56.7 million. Analysts expected earnings of 35 cents a share and revenue of $57.4 million. Shares were up 36 cents to $17.88.

VeriFone

(PAY)

rose 9% after the electronic-payment technology outfit posted first-quarter results that topped forecasts. The company earned $13.8 million, or 20 cents a share, on revenue of $134.6 million. Excluding items, the company earned $16.6 million, or 24 cents a share, for the quarter ended Jan. 31. Analysts expected earnings of 22 cents a share on revenue of $129.9 million. During the year-earlier quarter, the company earned $5.8 million, or 10 cents a share, on sales of $111.3 million. Excluding items, the company earned $9.4 million, or 16 cents a share, a year ago. VeriFone shares were up $2.35 to $29.55, and earlier hit a 52-week high of $30.69.

Shares of

Novell

(NOVL)

sank 17% after the software company posted better-than-expected first-quarter results but issued second-quarter guidance that missed expectations. The company earned $1.8 million, or less than a penny a share, on revenue of $274.4 million. Excluding items, the company earned $18 million, or 4 cents a share, a penny better than estimates. Revenue for the January quarter totaled $274.4 million, above analysts' target of $269.3 million. During the year-earlier period, the company earned $392.4 million, or 90 cents a share, on revenue of $290.1 million. Excluding items, the company earned $10.3 million, or 3 cents a share, a year earlier.

Looking ahead, Novell sees second-quarter earnings of 2 cents to 3 cents a share, excluding 2 cents a share in stock-based compensation costs. The company predicts sales of $272 million to $282 million. Analysts project earnings of 4 cents a share on sales of $282.2 million. Shares were trading down $1.61 to $7.92.

Other technology movers included

JDSU

(JDSU)

, up 27 cents to $3.76;

Sun Microsystems

(SUNW) - Get Report

, up 32 cents to $4.59;

Ciena

(CIEN) - Get Report

, up 23 cents to $4.87;

Level 3 Communications

(LVLT)

, up 20 cents to $3.75;

Cisco Systems

(CSCO) - Get Report

, up 11 cents to $20.99;

Lucent Technologies

(LU)

, up 4 cents to $2.85;

Oracle

(ORCL) - Get Report

, up 8 cents to $12.88;

Microsoft

(MSFT) - Get Report

, down 9 cents to $26.88;

Conexant

(CNXT) - Get Report

, up 12 cents to $3.29;

Sirius Satellite Radio

(SIRI) - Get Report

, down 8 cents to $5; and

Applied Materials

(AMAT) - Get Report

, down 14 cents to $18.88.