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Tuesday's Tech Winners & Losers

Tech stocks are up modestly, as traders await word from the Fed.
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Updated from 12:13 p.m. EDT

Tech stocks were up modestly early Tuesday, as investors awaited the

Federal Reserve's

expected action on interest rates in the afternoon.

A majority of the Nasdaq 100 was up today. Chipmaker

Nvidia

(NVDA) - Get Report

gained 8.8% to close at $35.

BEA Systems

was one of the few decliners, losing 0.2% to $13.29.

The index gained about 52 points to 2035.37.

Transaction management software maker

Synchronoss Technologies

(SNCR) - Get Report

was among the bigger movers, surging 10.3% to a new 52-week high of $42, despite no major news. Shares have climbed fairly steadily, with a few drops, since its 2006 IPO.

Move

TST Recommends

(MOVE)

, which operates the

Move.com real estate listings site, climbed 9.8% after saying, after Monday's bell, it would buy back $50 million worth of shares. The stock gained 28 cents to $3.14.

ON Semiconductor

(ONNN)

gained 6.2% after Wachovia upgraded the stock to outperform from market perform. Shares added 71 cents to $12.22.

Video game makers

Activision

(ATVI) - Get Report

and

Electronic Arts

(ERTS)

both made modest gains after Goldman Sachs initiated coverage of the stocks with buy ratings. Activision shares jumped 3.9% to $20.80, while Electronic Arts jumped 3.7% to $55.72.

Adobe Systems

(ADBE) - Get Report

rose 1.5% after an

earnings beat announced after Monday's close. The design and publishing software company reported revenue of $851.7 million, vs. $602.2 million in the year-ago period. Analysts polled by Thomson Financial forecast revenue of $789.3 million. Excluding items, Adobe reported diluted earnings of 45 cents a share, compared to 29 cents a share in the year-ago period. Analysts had expected earnings of 40 cents a share.

The company also provided fourth-quarter guidance above analysts' estimates. Adobe sees revenue of between $860 million and $890 million and non-GAAP earnings per share of between 46 cents and 48 cents. Analysts expected revenue of $842.5 million and earnings of 44 cents a share. The stock closed up 65 cents to $43.71.