Shares of Agilysys ( AGYS) were among technology's winners Monday, climbing 17% after the computer products distributor posted better-than-expected fourth-quarter results.

For the quarter ended March 31, Agilysys earned $6 million, or 19 cents a share, on revenue of $394.7 million. Analysts polled by Thomson First Call expected earnings of 15 cents a share and revenue of $392.8 million. A year earlier, the company reported a loss of $2.3 million, or 8 cents a share, on revenue of $356.2 million.

Looking ahead, Agilysys sees fiscal 2007 earnings of $1.15 to $1.22 a share on revenue growth of 6% to 8%. Two analysts have an average projection for earnings of $1.19 a share and revenue of $1.83 billion, or top-line growth of 5%. Shares were trading up $2.38 to $16.40.

Shares of Atmel ( ATML) jumped 7% after an investment firm said it is interested in buying the microchip maker. RDG Capital, which is an Atmel shareholder, said it sent a letter to Atmel expressing interest in buying the company for $5.50 a share in cash and preferred stock. RDG said the company responded by saying it wants to remain public. Still, RDG said it remains interested in buying the company. Such a deal would value Atmel at about $2.7 billion. Atmel shares recently were up 31 cents to $4.69.

Transmeta ( TMTA) rose 3% after the chipmaker said it has developed a microprocessor and reference system platform that is designed to support Microsoft's ( MSFT) new "FlexGo" technology. "Microsoft's FlexGo technology combined with Transmeta's microprocessing chip technology offer an affordable means for personal computer usage and consumption through new business models such as pay-as-you-go computing," Transmeta said. Microsoft's FlexGo allows customers to get a full-featured Windows-based personal computer that can be accessed using prepaid cards or monthly subscription fees. Microsoft plans to launch the technology in Brazil, India, Mexico, Russia and China. Shares of Transmeta were up 5 cents to $1.54.

Shares of Openwave Systems ( OPWV) slid 6% after the software company said the Securities and Exchange Commission is conducting an informal inquiry into the company's stock option grants and stock option practices. The company, which has been asked for documents relating to its stock-option practices, said that it would cooperate fully with the SEC. Shares were trading down 85 cents to $14.52.

Meanwhile, CNET Networks ( CNET) said it has appointed a special committee of independent directors to conduct an internal investigation relating to past option grants, the timing of such grants and related accounting matters. The move comes after a report by the Center for Financial Research and Analysis found the tech media company to have granted stock options on four occasions between 1998 and 2001 with exercise prices that matched or were close to a 40-day low for its stock price. CNET shares tumbled 76 cents, or 8%, to $9.08.

Shares of Tekelec ( TKLC) were relatively flat after the telecom-equipment company received a delisting notice from Nasdaq. The delisting notice stems from the company's inability to file its first-quarter financials with the SEC on time. The Nasdaq has given the company until July 17 to file its results, the company said. Shares were trading up 2 cents to $13.93.

Other technology movers included Microsoft ( MSFT), up 21 cents to $22.77; Sun Microsystems ( SUNW), down 9 cents to $4.50; Intel ( INTC), down 20 cents to $18.16; JDSU ( JDSU), up 1 cent to $2.79; Cisco Systems ( CSCO), down 11 cents to $20.76; Sirius Satellite Radio ( SIRI), unchanged at $4; Juniper Networks ( JNPR), up 39 cents to $15.45; Apple Computer ( AAPL), down $1.38 to $63.13; Lucent Technologies ( LU), down 2 cents to $2.52; Oracle ( ORCL), down 9 cents to $13.61; and Dell ( DELL), down 8 cents to $24.49.

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