Shares of Faro Technologies ( FARO - Get Report) were among technology's losers Friday, falling 17% after the company posted disappointing third-quarter results and issued a fourth-quarter forecast that was below expectations.

The company, which makes computer-aided design products, reported a profit of $2.6 million, or 18 cents a share, on sales of $32.6 million. Results included pretax costs of $1.6 million for inventory costing and consumption variances, which was related to the company's new software system. Analysts polled by Thomson First Call were expecting earnings of 25 cents a share and sales of $32.7 million. Faro's year-ago earnings were $3.1 million, or 22 cents a share, on sales of $23.4 million.

Faro sees fourth-quarter earnings of 19 cents to 27 cents a share, well below analysts' projection of 35 cents. The company predicts sales of $33 million to $35 million, compared with Wall Street's expectation of $37.1 million. Shares were trading down $3.88 to $18.50.

Verity ( VRTY) jumped 27% after the software company agreed to be acquired by Autonomy for $500 million, or $13.50 a share. The British infrastructure software company's offer represents a 30% premium over Verity's closing price of $10.37 Thursday. The deal is expected to close in late 2005 or early 2006. Shares of Verity were trading up $2.83 to $13.20.

Shares of Powerwave Technologies ( PWAV) rose 4% after the wireless network equipment company posted third-quarter results that beat expectations. The company earned $13.1 million, or 11 cents a share, on sales of $217.8 million. Excluding items, the company would have earned $18.2 million, or 15 cents a share. Analysts expected earnings of 12 cents a share, before items, and sales of $202.9 million. Year-earlier earnings were $2.8 million, or 3 cents share, on sales of $138.3 million. Powerwave shares gained 44 cents to $12.62.

Sanmina-SCI ( SANM - Get Report) soared 21% after the company posted fourth-quarter results that beat forecasts. The electronics contract manufacturer posted earnings of $15.1 million, or 3 cents a share, on sales of $2.77 billion. Excluding items, the company would have earned $31.3 million, or 6 cents a share. Analysts expected earnings of 5 cents a share, before items, and sales of $2.73 billion. A year earlier, Sanmina's earnings were $5.3 million, or 1 cent a share, on sales of $3.3 billion. Excluding items, the company would have earned $35.4 million, or 7 cents a share, a year ago.

Sanmina sees first-quarter adjusted earnings of 6 cents to 8 cents a share, bracketing analysts' mean estimate of 7 cents. The company projects sales of $2.8 billion to $2.9 billion, while Wall Street projects a top line of $2.92 billion. Shares traded up 78 cents to $4.44.

Shares of Aeroflex ( ARXX) climbed 15% after the electronics components maker posted first-quarter results that were ahead of expectations and gave a second-quarter outlook that pleased investors. The company earned $4.5 million, or 6 cents a share, on sales of $125.6 million. On a pro forma basis, which excludes certain items, the company earned $8.7 million, or 11 cents a share. Analysts expected pro forma earnings of 9 cents a share on sales of $122.3 million. Last year, the company's earnings were $5.6 million, or 7 cents a share, on sales of $109.2 million. Pro forma earnings were $6.9 million, or 9 cents a share, a year ago.

Aeroflex sees second-quarter pro forma earnings of 13 cents a share, above analysts' mean estimate of 11 cents. The company projects sales of $132 million to $134 million, which would top Wall Street's target of $129.2 million. Shares were trading up $1.31 to $10.33.

Other technology movers included JDSU ( JDSU), down 5 cents to $2.35; Oracle ( ORCL), up 34 cents to $12.54; Microsoft ( MSFT - Get Report), up 13 cents to $26.57; Cisco ( CSCO), up 25 cents to $17.76; Lucent Technologies ( LU), down 1 cent to $2.77; Apple Computer ( AAPL - Get Report), down 87 cents to $60.98; Intel ( INTC), down 8 cents to $23.81; Sun Microsystems ( SUNW), down 4 cents to $3.87; Symantec ( SYMC), up 38 cents to $18.90; Sirius Satellite Radio ( SIRI), down 9 cents to $6.85; and Qualcomm ( QCOM), down 24 cents to $43.78.