Shares of Synnex ( SNX) were among technology's winners Friday, rising 7% after the information technology supply-chain services company posted first-quarter results that topped forecasts. The company earned $10.7 million, or 34 cents a share, on revenue of $1.5 billion. Excluding stock-based compensation costs, Synnex earned $11.2 million, or 36 cents a share. Analysts polled by Thomson First Call expected earnings, including stock-based compensation costs, of 33 cents a share and revenue of $1.45 billion. During the year-earlier period the company earned $9.7 million, or 31 cents a share, on revenue of $1.31 billion. Looking ahead, Synnex sees second-quarter earnings of $10.9 million to $11.6 million, or 35 cents to 37 cents a share, excluding one-time items and stock-based compensation costs. Synnex said the compensation expense would be about 2 cents to 3 cents a share during the second quarter. Analysts project earnings of 34 cents a share. The company predicts revenue of $1.45 billion to $1.5 billion, bracketing analysts' average estimate of $1.47 billion. Synnex shares recently were trading up $1.24 to $19.72. Shares of Google ( GOOG) rose 8% after Standard & Poor's said it plans to add the Internet search company to its S&P 500 index after the close of trading on March 31. Google will replace Burlington Resources ( BR), which is being acquired by ConocoPhillips ( COP). Google shares recently traded at $367.73, up $25.84. Palm ( PALM) rose 2% after the maker of handheld gadgets posted better-than-expected third-quarter results and gave a fourth-quarter projection that topped forecasts. The company earned $29.9 million, or 28 cents a share, on revenue of $388.5 million. Excluding items, Palm earned $19.8 million, or 19 cents a share. Wall Street expected earnings of 16 cents a share, before items, on revenue of $374.7 million. A year earlier the company earned $10.6 million, or 10 cents a share, before items, on revenue of $285.3 million.
Palm sees fourth-quarter earnings of 22 cents to 23 cents a share, before items. The company predicts revenue of $400 million to $405 million. Analysts project earnings of 20 cents a share, with revenue of $394.9 million. Palm shares rose 32 cents to $20.46. Electroglas ( EGLS) jumped 12% after the company reported a smaller-than-expected third-quarter loss. The company, which makes wafer probers used by chipmakers, reported a loss of $4.2 million, or 19 cents a share, for the quarter ended March 4. Analysts expected a loss of 20 cents a share. Electroglas recorded revenue of $11.3 million, slightly higher than Wall Street's projection of $11.1 million. During the year-earlier period the company had a loss of $8.8 million, or 40 cents a share, on revenue of $8.4 million. Excluding certain items, the year-earlier loss totaled $8.1 million, or 37 cents a share. Looking ahead, Electroglas said it expects fourth-quarter revenue of $14 million to $16 million. Analysts, meanwhile, project revenue of $13.1 million. The company's shares were up 53 cents to $4.84. Shares of 3Com ( COMS) fell 1% after the networking company's third-quarter revenue fell short of Wall Street's expectation. The company reported a loss of $32.8 million, or 8 cents a share, for the quarter ended March 3, including charges of $17 million, or 4 cents a share. Analysts expected a loss of 7 cents a share. 3Com posted revenue of $177.6 million, missing analysts' estimate of $191.6 million. During the year-earlier period, the company recorded a loss of $53 million, or 14 cents a share, on revenue of $161.2 million. The results during the year-earlier period included items totaling $16 million, or 4 cents a share. Shares were trading down 3 cents to $5.08. Other technology movers included Lucent Technologies ( LU), up 25 cents to $3.07; Nortel Networks ( NT), up 13 cents to $2.94; Alcatel ( ALA), up 22 cents to $15.67; Level 3 Communications ( LVLT), up 25 cents to $4.26; Microsoft ( MSFT), up 7 cents to $26.92; Time Warner Telecom ( TWTC), up 66 cents to $15.28; Sirius Satellite Radio ( SIRI), down 7 cents to $5.07; Intel ( INTC), down 6 cents to $19.64; Cisco Systems ( CSCO), down 1 cent to $21.40; and JDSU ( JDSU), up 11 cents to $4.03.