Shares of LTX ( LTXX) were among technology's winners Wednesday, climbing 17% after the maker of semiconductor test products posted better-than-expected third-quarter results and issued a fourth-quarter guidance well above expectations.

For the third quarter ended April 30, the company earned $8.1 million, or 13 cents a share, on revenue of $56.3 million. Analysts polled by Thomson First Call expected earnings of 9 cents a share on revenue of $52.7 million. A year earlier, LTX posted a loss of $45.7 million, or 75 cents a share, on revenue of $25.5 million. The year-ago results included charges totaling $28.6 million, or 47 cents a share. "The current growth cycle continues to gain momentum. Customer acceptance of LTX's product strategy, together with an improving business environment, provided the fuel for our business model to deliver strong results," the company said.

Looking ahead, LTX forecast fourth-quarter earnings of 22 cents to 24 cents a share and revenue of $68 million to $70 million. Analysts project earnings of 11 cents a share on revenue of $57.1 million. Shares were trading up 97 cents to $6.78.

Hewlett-Packard ( HPQ) rose 4% after the maker of computers and printers posted better-than-expected fiscal second-quarter earnings. The company earned $1.46 billion, or 51 cents a share, on revenue of $22.6 billion. Excluding items, the company earned $1.55 billion, or 54 cents a share, for the quarter ended April 30. Analysts expected earnings of 49 cents a share on revenue of $22.6 billion. During the year-earlier quarter, H-P earned $966 million, or 33 cents a share, on revenue of $21.6 billion. Excluding items, the company would have earned $1.1 billion, or 37 cents a share, during the year-earlier quarter.

For the third quarter, H-P projects adjusted earnings of 45 cents to 48 cents a share, above analysts' mean estimate of 43 cents. The company predicts revenue of $21.75 billion, compared with Wall Street's target of $21.76 billion. Shares were up $1.21 to $32.32.

Shares of Merge Technologies ( MRGE) fell 3% after the medical software company announced the resignation of its chief executive and said it received an informal inquiry from the Securities and Exchange Commission requesting certain documents. Merge, which didn't offer an explanation for Richard Linden's sudden departure, named Bill Mortimore as interim CEO. Mortimore served as CEO from 1987 to 2000 and had been serving as chief strategist and chairman.

As for the SEC matter, which was initiated on April 27, Merge said the agency requested documents and other information related to the company's March 17 announcement that it was restating certain financial results and investigating its accounting and financial-disclosure practices. The company said it expects to conclude its own investigation within the next few weeks. "Our goal is that the company become current in its SEC filings as soon as possible, and we are devoting significant resources to this effort," Merge said. Shares were trading down 38 cents to $12.51.

Linktone ( LTON) rose 3% after the Chinese maker of wireless entertainment products posted better-than-expected first-quarter results. The company earned $2.3 million, or 9 cents per American depository share, on gross revenue of $23 million. Excluding items, the company earned $3.5 million, or 13 cents a share. Analysts expected earnings of 8 cents a share on revenue of $20.6 million. A year earlier, Linktone earned $3.2 million, or 12 cents a share, on revenue of $15.1 million. Excluding items, year-earlier earnings were $3.7 million, or 14 cents a share.

Linktone sees adjusted second-quarter earnings of 13 cents a share on gross revenue of $23.5 million. Analysts project earnings of 10 cents a share and revenue of $21.5 million. Shares were trading up 25 cents to $7.90.

Shares of CACI International ( CAI) slipped 2% after the information-technology company dismissed speculation that it and BAE Systems are in merger talks. "CACI is not and has not been in discussions with BAE Systems regarding a possible business combination, and has not authorized anyone to engage in such discussions on its behalf," CACI said in a press release. The company said the takeover speculation "caused a number of CACI's federal government clients to raise concerns about potential conflicts of interest with the work CACI is currently performing for those clients in the event there were a BAE acquisition of CACI." Shares of CACI recently were down $1.15 to $63.81.

Other technology movers included Microsoft ( MSFT), down 4 cents to $22.97; Sirius Satellite Radio ( SIRI), down 9 cents to $4.13; Sun Microsystems ( SUNW), up 1 cent to $4.54; Applied Materials ( AMAT), down 79 cents to $17.06; Intel ( INTC), down 21 cents to $18.85; Lucent Technologies ( LU), down 3 cents to $2.60; Cisco Systems ( CSCO), unchanged at $20.21; Oracle ( ORCL), down 28 cents to $13.91; and JDSU ( JDSU), down 6 cents to $2.79.

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