Shares of Microchip ( MCHP) rose 3% after the chip company backed its first-quarter earnings and revenue guidance. The company continues to project earnings of about 37 cents a share, which excludes about 2 cents a share in stock-based compensation costs. Microchip still sees sequential revenue growth of about 5% to 6%. Analysts project earnings of 36 cents a share on revenue of $257.7 million, or sequential revenue growth of about 4%. Shares were up $1.05 to $34.40. Other technology movers included Microsoft ( MSFT), down 2 cents to $23.13; Intel ( INTC), up 29 cents to $18.10; Sun Microsystems ( SUNW), up 6 cents to $4.61; Sirius Satellite Radio ( SIRI), up 13 cents to $4.52; Cisco Systems ( CSCO), up 7 cents to $19.84; JDSU ( JDSU), up 8 cents to $3.04; Apple Computer ( AAPL), down 69 cents to $60.53; Oracle ( ORCL), up 15 cents to $14.17; Applied Materials ( AMAT), up 20 cents to $16.91; and Lucent Technologies ( LU), up 1 cent to $2.55.