Shares of Axcelis Technologies ( ACLS) were among technology's winners Tuesday, rising 8% after the maker of semiconductor-processing equipment backed its fourth-quarter earnings and revenue projections.

The company expects to report earnings of 11 cents to 15 cents a share, with revenue of $115 million to $125 million. Analysts polled by Thomson First Call project earnings of 12 cents a share and revenue of $121.2 million.

"Our financial performance continues to meet our expectations," Axcelis said. "We are especially pleased by the high order activity for both our implant and dry strip products during the quarter, beating our anticipated quarterly system order run rate." Shares were trading up 38 cents to $6.37.

Cray ( CRAY) rose 1% after the maker of supercomputers affirmed its 2006 revenue forecast. The company continues to estimate revenue of $220 million. For the fourth quarter, the company expects to post revenue of about $100 million. Analysts see revenue of $219.9 million for the year and $100.5 million for the fourth quarter.

Looking ahead, Cray still anticipates 2007 revenue of $230 million to $260 million. First-quarter revenue, meanwhile, is expected to account for about 20% of the full-year total. Analysts project 2007 revenue of $250.3 million and first-quarter revenue of $40.2 million. Shares were trading up 16 cents to $12.46.

Shares of Lawson Software ( LWSN) fell 6% after the software company's second-quarter earnings and third-quarter forecast missed expectations. For the period ended Nov. 30, the company posted a loss of $3.5 million, or 2 cents a share, on revenue of $184.5 million. Excluding items, the company earned $5.4 million, or 3 cents a share. Analysts expected earnings of 4 cents a share and revenue of $179.9 million. A year earlier, the company earned $6.6 million, or 6 cents a share, on revenue of $89 million.

Lawson forecast third-quarter adjusted earnings of 2 cents to 3 cents a share on revenue of $183 million to $191 million. Analysts project earnings of 6 cents a share on revenue of $193.7 million. Shares were sliding 42 cents to $6.70.

Knology ( KNOL) climbed 7% after the company announced the acquisition of PrairieWave Communications, a provider of voice, video, and high-speed Internet broadband services. Knology will buy the company for some $255 million in cash. The deal is expected to close during the second quarter. Shares of Knology were adding 71 cents to $11.26.

Shares of Spectrum Control ( SPEC) fell 9% after the maker of electronic control products and systems posted fourth-quarter earnings that fell short of its guidance. For the period ended Nov. 30, the company earned $2 million, or 15 cents a share, on revenue of $35 million. The company had forecast earnings of 17 cents to 19 cents a share and revenue of about $34 million. During the year-earlier period, the company earned $1.1 million, or 8 cents a share, on revenue of $25.4 million. Shares were trading down 96 cents to $9.79.

Other technology movers included Intel ( INTC), down 1 cent to $21; Cisco Systems ( CSCO), down 9 cents to $28.54; Apple Computer ( AAPL), up $2.33 to $87.80; Level 3 Communications ( LVLT), up 4 cents to $6.12; Microsoft ( MSFT), up 5 cents to $29.98; Sun Microsystems ( SUNW), down 2 cents to $5.63; Sirius Satellite Radio ( SIRI), down 2 cents to $5.63; and Applied Materials ( AMAT), up 7 cents to $18.96.

More from Stocks

Pegasystems Founder Explains Why He Has One of the Hottest Tech Stocks Around

Pegasystems Founder Explains Why He Has One of the Hottest Tech Stocks Around

9 Stocks Goldman Sachs Thinks Will Blow Wall Street's Performance Away in 2019

9 Stocks Goldman Sachs Thinks Will Blow Wall Street's Performance Away in 2019

Jim Cramer on U.S.-China Trade: The Media Has it Wrong

Jim Cramer on U.S.-China Trade: The Media Has it Wrong

Is Tesla's Stock Set to Nearly Double to $500?

Is Tesla's Stock Set to Nearly Double to $500?

Tesla's $78,000 Model 3 Is a Bargain. Here's Why

Tesla's $78,000 Model 3 Is a Bargain. Here's Why