Shares of Digital River ( DRIV) were among technology's winners Tuesday, rising 8% after the Web-development services company lifted its first-quarter guidance. The company now sees earnings of 48 cents a share, before items, on revenue of $77 million. Previously, Digital River predicted earnings of 40 cents a share and revenue of $70 million. Analysts polled by Thomson First Call project earnings of 40 cents a share on revenue of $70.1 million. Digital River, which didn't offer a reason for its revised guidance, said it expects to update its full-year projections when it releases first-quarter results in late April. Shares were trading up $3.14 to $44.92. Progress Software ( PRGS) fell 3% after the software company posted in-line first-quarter earnings but issued second-quarter guidance that disappointed investors. For the quarter ended Feb. 28, the company earned $5.8 million, or 14 cents a share, down from $9.3 million, or 23 cents a share, a year earlier. Excluding items, the company's earnings rose to $13.1 million, or 31 cents a share, from $10.7 million, or 27 cents a share, last year. Revenue grew to $103.9 million from $97.7 million. Analysts expected earnings of 31 cents a share on revenue of $104 million. Looking ahead, Progress Software sees second-quarter earnings of 33 cents to 35 cents a share, excluding items. The company predicts revenue of $108 million to $110 million. Analysts target earnings of 35 cents a share and revenue of $110 million. Shares were down 86 cents to $29.36. Shares of Actions Semiconductor ( ACTS) slumped 14% after the China-based chip designer said the U.S. International Trade Commission made an initial determination that some of Actions' audio-processing chips infringe on SigmaTel's ( SGTL) patents. "Actions is disappointed by the initial determination, but does not believe that this decision, even if upheld on appeal, will have a significant impact on its business because less than ten percent of its revenues are derived from sales into the U.S.," Actions said. The company also added that its next generation of semiconductor products will include new and different technology. Actions said that a final determination is expected from the ITC by June 19. Shares of Actions Semiconductor were trading down $1.20 to $8, while SigmaTel shares gained 41 cents, or 4%, to $10.71.
Shares of Rambus ( RMBS) rose 4% after the company lifted its first-quarter revenue forecast. Rambus, which licenses memory chip technology, now sees revenue of $45 million to $48 million, up from an earlier view of $41 million to $43 million. One analyst's projection recently had gained $1.46 to $35.86. Silicon Storage Technology ( SSTI) shares fell 5% after the flash memory company cut its first-quarter revenue outlook, citing weaker-than-expected demand for certain applications and supply-chain constraints. The company now sees revenue of $108 million to $112 million, down from an earlier view of $117 million to $132 million. Analysts project revenue of $125.3 million. Silicon Storage left its earnings projection of 7 cents to 12 cents a share intact. Analysts project earnings of 10 cents a share. Silicon Storage is scheduled to release its earnings on April 27. Shares were trading down 19 cents to $3.97. Other technology movers included Oracle ( ORCL), up 7 cents to $13.79; Intel ( INTC), up 52 cents to $20.14; Sun Microsystems ( SUNW), down 4 cents to $4.79; Microsoft ( MSFT), up 21 cents to $28.10; JDSU ( JDSU), up 12 cents to $4.12; Sirius Satellite Radio ( SIRI), up 9 cents to $5.20; Lucent Technologies ( LU), down 2 cents to $2.80; Mindspeed Technologies ( MSPD), up 54 cents to $3.84; Level 3 Communications ( LVLT), down 4 cents to $3.69; and Cisco Systems ( CSCO), up 13 cents to $21.81.