Shares of Adobe Systems ( ADBE) were among technology's winners Friday, rising 9% after the software maker posted third-quarter earnings that topped Wall Street forecasts. The company earned $144.9 million, or 29 cents a share, on sales of $487 million. Excluding items, the company would have earned $146.4 million, or 29 cents a share. Analysts surveyed by Thomson First Call were expecting earnings of 27 cents a share on sales of $487 million. A year ago the company earned $104.5 million, or 21 cents a share, on sales of $403.7 million. Looking ahead, Adobe forecast fourth-quarter earnings of 27 cents to 29 cents share on sales of $490 million to $510 million. Analysts had been expecting earnings of 28 cents a share on sales of $508.5 million. Shares were recently trading up $2.44 to $29.34. InFocus ( INFS) fell 7% after the company announced the resignation of its chief financial officer and laid out plans to restructure its business. Roger Rowe, who most recently served as corporate controller, will replace CFO Mike Yonker. Rowe's appointment is effective immediately. Yonker, meanwhile, will stay with InFocus through the rest of the year and serve in a transitional role. The company also said it will simplify its business and reduce operating expenses by 20% to 25% from second quarter of 2005 levels. InFocus said it will no longer invest in developing thin displays leveraging its technology and plans to exit the business for those products. The company is also evaluating headcount and discretionary program spending in all areas of the company infrastructure, it said. "Our performance to date has made it clear that the time for decisive action is now," the company said. "To return the business to profitability, we must become a more focused company." Since the beginning of the year, shares of InFocus have fallen by about 64%. Shares were recently trading down 24 cents to $3.22.
Shares of Intevac ( IVAC) traded actively after the company announced a follow-on order for two of its 200 Lean magnetic disk sputtering systems. "We are pleased to have received this order for two 200 Lean systems," the company said. Intevac said the delivery is scheduled for the first quarter of 2006. Shares were recently trading down 64 cents to $11.65. TNS ( TNS) rose 5% after the data communications services company said it sold 7.78 million shares of stock at $23.25 apiece. TNS sold 1.2 million shares while selling shareholders sold the rest. The sale price represented a 5% discount to Thursday's closing price of $24.42. Shares were trading up $1.12 to $25.54. Shares of Open Solutions ( OPEN) fell 4% after the software company agreed to acquire a business unit from Bisys Group ( BSG) for $470 million. Open Solutions will purchase Bisys' information services group, which includes its banking solutions, document solutions and corporate financial solutions businesses. Open Solutions said the transaction, which is expected to close during the fourth quarter, would add 6 cents to 12 cents in earnings and $180 million to $195 million in sales to 2006 results. Shares of Open Solutions were recently trading down 89 cents to $22.20. Other technology movers included Microsoft ( MSFT), down 21 cents to $26.06; Sirius Satellite Radio ( SIRI), down 29 cents to $7.05; Intel ( INTC), up 26 cents to $24.81; Oracle ( ORCL), down 8 cents to $13.29; Sun Microsystems ( SUNW), up 2 cents to $3.95; RF Micro Devices ( RFMD), down 24 cents to $5.81; and Lucent Technologies ( LU), down 3 cents to $3.06.