Get Jim Cramer's picks for 2006.

Shares of Multi-Fineline Electronix ( MFLX) were among the best-performing technology stocks Thursday, soaring 22% after the company increased its earnings forecast for the current quarter.

The company, a maker of printed circuit and component assembly products for the electronics industry, now expects fiscal first-quarter earnings of $15 million to $17.5 million. In November, Multi-Fineline targeted a profit of $11 million to $12.4 million. The company attributed the raised guidance to leveraging of fixed costs and strong wireless communications sales. The shares recently were up $8.32 to $47.

Integrated Alarm Services announced that it hired Allen & Co. to help the company explore strategic options, sending shares up about 5%. The security-alarm services company said the options could include acquisitions, joint ventures, a merger or a recapitalization. Shares were up 14 cents to $2.95.

Shares of Cherokee International surged 12% after the maker of power supplies boosted its fourth-quarter revenue projection. The company expects revenue growth to be in the mid-to-high teens percentage from the third-quarter, when the top line came in at $26.4 million. Previously, Cherokee projected mid-teen revenue growth. Cherokee said it is seeing strength in the storage and server markets, as well as demand from its telecom accounts in Europe. The company also has seen a pick-up after customer delays in the second and third quarters. Cherokee shares traded up 50 cents to $4.52.

Shares of LivePerson ( LPSN - Get Report) challenged their 52-week high after being initiated with a buy rating at brokerage WR Hambrecht. The company sells software for customer service and other online transactions. Hambrecht, which set a $7.50 price target on the stock, said LivePerson should benefit from currently strong demand for Web analytics and communication technology. The brokerage said revenue growth should be 36% this year and 32% in 2006. Recently, the stock was up 39 cents, or 7.7%, to $5.43. The 52-week range is $2.24 to $5.63.

Vimpel-Communications ( VIP) rose after the company said it bought a controlling stake in a Tajikistani wireless operator. Vimpel, which is based in Russia and trades in the U.S. via an American depositary share, said it paid $12 million for a 60% stake in Tacom. It also bought an option from Tajikistan's largest bank to acquire the rest of the company for an undisclosed price. In recent trading, Vimpel ADSs rose 1.6% to $44.88.

Innovative Solutions & Support ( ISSC - Get Report) rallied after the company authorized the repurchase of up to 2 million common shares. The company makes and sells various kinds of computer monitors. In a release, Innovative Solutions said the buyback authorization will expire June 30 unless otherwise extended. At last night's closing price of $11.80, it would cost about $23.6 million to buy back the full 2 million shares. In recent trading, shares of Innovative Solutions were up $1.15, or 9.8%, to $12.95.

Net2Phone rose after IDT ( IDT - Get Report) said it remains willing to buy its publicly traded shares at $2.05 apiece. IDT, which sells telecommunications products, already owns about 77% of Net2Phone under a previously expired tender offer. IDT said Thursday it was extending the offer to Jan. 19. Shares of Net2Phone, which sells voice-over-Internet-protocol services, rose 3 cents, or 1.5%, to $2.04. IDT shares fell 2 cents, or 0.2%, to $11.73.

Shares of United Microelectronics ( UMC - Get Report) fell after the Taipei-based company's chairman said he plans to resign in March. The company is the subject of an investigation by Taiwanese authorities into possible stock-trading transgressions. UMC is also in the process of restating three years of earnings under U.S. accounting rules after disclosing errors earlier this month. In a release, the chairman, Robert Tsao, said he would step down to deflect political pressures. In recent trading, the company's ADRs were off 2 cents, or 0.6%, to $3.21.

Other heavily traded technology stocks Thursday included JDS Uniphase ( JDSU), up 3 cents to $2.43; Sirius Satellite Radio ( SIRI), up 5 cents to $6.80; Cisco ( CSCO - Get Report), down 5 cents to $17.24; Microsoft ( MSFT), down 3 cents to $26.36; Apple ( AAPL), down $1.60 to $71.97; Sun Microsystems ( SUNW), down 1 cent to $4.31; Intel ( INTC), down 7 cents to $25.37; Oracle ( ORCL), down 2 cents to $12.26; Motorola , down 3 cents to $22.87; Dell ( DELL), down 20 cents to $30.43; Yahoo! ( YHOO), down 59 cents to $39.66; and Applied Materials ( AMAT - Get Report), up 2 cents to $18.23.

Get Jim Cramer's picks for 2006.