Updated from 11:47 a.m. EDT

Jitters that appeared when KLA-Tencor ( KLAC) warned of a possible order decline in its June quarter vaulted semiconductor-equipment giant Applied Materials ( AMAT) near the top of the Nasdaq high-volume list Thursday.

Applied Materials ended the day off 60 cents, or almost 3%, to $19.73. More than 57 million shares traded hands after rival KLA said orders could fall as much as 15% in the current quarter. The guidance sent KLA's stock down $2.25, or 4.6%, to $46.14 on Thursday.

Applied was joined on the list by Microsoft ( MSFT), which reported earnings after the bell Thursday, followed by volume stalwarts Sirius Satellite ( SIRI), Intel ( INTC) and Cisco ( CSCO).

Sirius ended the day up 14 cents, or 4%, to $3.62 on volume of more than 55 million shares, after losing 9% Wednesday, when it reported a loss in its first quarter.

NYSE volume was led by daily favorites Lucent ( LU), Motorola ( MOT), Nortel ( NT), Ford ( F) and General Electric ( GE).

Looking at big price swings, a handful of Nasdaq stocks broke out of the gate strong and maintained the pace throughout the day.

StockerYale ( STKR), a provider of photonics-based products, surged Thursday after issuing a press release saying it would provide lasers under two recent orders it received from BAE Systems ( BAESF). StockerYale closed up 43 cents, or 13.6%, to $3.68.

Another stock that powered ahead on Thursday was Laserscope ( LSCP), which released first-quarter earnings that easily beat the Street by 5 cents a share.

The company earned 10 cents a share in the most recent quarter vs. 1 cent a year ago on a 51% jump in revenue to $18.8 million. Laserscope also provided guidance for the rest of the year, saying it expects to earn 50 cents to 55 cents per share on revenue of $86 million during 2004. Analysts were looking for the company to earn 33 cents on revenue of $70 million. Laserscope closed $4.72 higher, or 17.5%, to $31.97.

On the Big Board, Hexcel ( HXL), a maker of lightweight materials used for the commercial aerospace and defense industry, released earnings late Wednesday that beat estimates. The company earned 9 cents a share vs. analysts' expectations of a penny loss.

Revenue jumped 15%, to $262 million. It chalked up the better-than-expected results to a strong space and defense market that continues to improve. The stock closed the day up 95 cents, or 13.3%, to $8.09.

Advanced Medical Optics ( AVO) moved significantly higher on Thursday, after the company announced better-than-expected earnings and revenue.

The company earned 15 cents a share in the first quarter on revenue of $150.3 million. Analysts polled by Thomson First Call were looking for the company to earn 12 cents a share on revenue of $143 million. The stock ended the day up a whopping $5.53, or 22.1%, to $30.45.

To the downside, BroadVision ( BVSN), a provider of self-serve Web applications, was taken to the woodshed on Thursday after announcing lackluster first-quarter earnings and revenue. The company reported a loss of 3 cents a share on a GAAP basis and a 1-cent per-share loss on a pro forma basis.

Analysts polled by Thomson First Call expected the company to earn 3 cents a share. The company came up short on the top line as well. Revenue of $20.9 million was far short of Wall Street expectations of $22.1 million. Shares traded down $1.98, or 31.5%, to $4.28 on Thursday.

Arris Group ( ARRS) was also hammered on Thursday after the company announced earnings and revenue that did not meet expectations. Arris earned 2 cents a share in the first quarter vs. expectations of 3 cents. The company's revenue, while 22% higher than the year-ago period, came in at $111.6 million, well below the estimate of $116 million that Wall Street was expecting. Shares of Arris traded down $2.24, or 25.6%, to $6.55.

Maxtor ( MXO), a computer hard-drive maker, was hit hard after the company forecast lower-than-expected earnings for its second quarter. The company announced first-quarter earnings Wednesday evening that met analysts' expectations, but said on a conference call that it expected to lose 4 cents to 8 cents a share in its current second quarter. Wall Street had expected the company to earn 10 cents a share. Shares finished down 91 cents, or 12%, to $6.69.

Graftech International ( GTI) traded sharply lower Thursday after the company posted lower-than-expected first-quarter earnings. The stock's fall, however, may have had more to do with what the company said about its upcoming second quarter and full-year earnings.

Graftech, after coming up a penny shy in its just-ended first quarter, forecast that second-quarter earnings would come in at 12 cents to 15 cents a share. Analysts, however, were expecting the company to earn 19 cents a share. Shares traded down $3.01, or 21.1%, to $11.25.

More from Opinion

Elon Musk's Latest Twitter Tirade Is the Dumbest Thing on Wall Street

Elon Musk's Latest Twitter Tirade Is the Dumbest Thing on Wall Street

Elon Musk's Twitter Tirade Is the Dumbest Thing on Wall Street

Elon Musk's Twitter Tirade Is the Dumbest Thing on Wall Street

Why Google's Search Momentum Won't Be Badly Hurt by New EU Rules

Why Google's Search Momentum Won't Be Badly Hurt by New EU Rules

Flashback Friday: Amazon, Chip Stocks, Memorial Day

Flashback Friday: Amazon, Chip Stocks, Memorial Day

Time to Talk Tesla: What Happened This Week, Elon?

Time to Talk Tesla: What Happened This Week, Elon?