Shares of

Spansion

(SPSN)

were among technology's winners Wednesday, rising 4% after the flash-memory company boosted its second-quarter revenue outlook.

The company now sees revenue of $605 million to $635 million, up from an earlier forecast of $590 million to $620 million. Analysts polled by Thomson First Call project a top line of $600.9 million. Spansion attributed the revision to strong worldwide demand from cellular phone, consumer and industrial markets. Spansion plans to release its second-quarter results in July. Shares were trading up 63 cents to $14.88.

Shares of

Acxiom

(ACXM)

rose 1% after ValueAct Capital said it plans to conduct a tender offer to buy up to 7 million shares for $25 apiece if its nominees are elected at Acxiom's annual meeting. The hedge fund, which currently owns about 11.7% of Axciom's stock, said it would own slightly less than 20% of the stock if it purchases all 7 million shares. ValueAct is attempting to get its three-person slate on the board "to drive changes that will produce more value for shareholders," the hedge fund said in a letter to Acxiom shareholders. The company's shares were trading up 25 cents to $23.56.

FSI International

(FSII)

traded actively after the company posted better-than-expected third-quarter revenue and gave a stronger-than-expected forecast for the fourth quarter. For the quarter ended May 27, the semiconductor-equipment maker posted a loss of $2.4 million, or 8 cents a share, on revenue of $32 million. Analysts expected a loss of 7 cents a share on lower revenue of $28.3 million. A year earlier, the company recorded a loss of $2 million, or 7 cents a share, on revenue of $19.1 million. The results during the year-earlier period included a one-time gain of $4.2 million, or 14 cents a share.

FSI International sees fourth-quarter earnings of $1 million to $2 million, with revenue of $35 million to $40 million. Analysts project earnings of $760,000 on revenue of $31.9 million. Shares were trading at $5.92, down 2 cents, on volume of 1.5 million shares. The stock's average volume is roughly 143,000 shares.

Shares of

Andrew

(ANDW)

rose 1% after the telecom supplier received a phase-two geolocation-systems contract for worth more than $10 million. The latest award, which was granted by an operator in the Middle East, brings the total contract value to date to more than $20 million. Andrew shares were up 5 cents to $9.16.

Jabil Circuit

(JBL) - Get Report

fell 3% ahead of the release of its third-quarter results. Analysts expect the electronics-manufacturing services company to post earnings of 37 cents a share on revenue of $2.57 billion. Last week, Jabil shares plunged after the company cut its guidance, estimating third-quarter core earnings of 33 cents to 37 cents a share, down from an earlier forecast of 43 cents a share. Jabil maintained its sales view, though, saying it still expects to post sales of $2.5 billion to $2.6 billion. Shares were recently down 91 cents to $25.32.

Other technology movers included

Microsoft

(MSFT) - Get Report

, up 33 cents to $22.89;

Oracle

(ORCL) - Get Report

, up 48 cents to $14.73;

Intel

(INTC) - Get Report

, up 39 cents to $18.54;

Cisco Systems

(CSCO) - Get Report

, up 68 cents to $20.41;

JDSU

(JDSU)

, up 7 cents to $2.62;

Level 3 Communications

(LVLT)

, up 7 cents to $4.14;

Apple Computer

(AAPL) - Get Report

, up 60 cents to $58.07;

Sirius Satellite Radio

(SIRI) - Get Report

, up 14 cents to $4.15;

Sun Microsystems

(SUNW) - Get Report

, up 5 cents to $4.27;

Applied Materials

(AMAT) - Get Report

, up 34 cents to $16.79; and

Lucent Technologies

(LU)

, 9 cents to $2.44.