Thursday's Tech Winners & Losers

CDC soars after its China.com unit signs a search deal with Google.
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PMC-Sierra

(PMCS)

was among technology's winners on Thursday, with shares rising 11% in heavy volume after the company filed its delayed second-quarter report and restated past financial results.

An internal investigation found discrepancies between the actual and recorded dates of some stock-options grants, but the company said "the incorrect measurement dates were not the product of any deliberate misconduct by the company's executives, staff or members of its board of directors."

The Santa Clara, Calif., broadband-chip maker said it adjusted stockholders' equity by $89.6 million. The incorrect accounting measurement dates were primarily made for grants between 1998 and 2001.PMC shares recently were up 71 cents to $6.82.

Shares of

CDC

(CHINA)

also soared after the company's China.com subsidiary inked a deal with

Google

(GOOG) - Get Report

. CDC said Google will provide search technology for both English and Chinese content by China.com users. Google and China.com, an online game and mobile applications provider, also will work together on branding, content and advertising.

"China.com firmly believes that this partnership between the world's premier search company and one of China's leading portals with over 5 million daily users is a perfect fit. By harnessing Google's innovative technology to China.com's deep understanding of the China market, we can rapidly expand the user base and generate new revenue opportunities for both companies," Xiaowei Chen, executive director and chief financial officer of China.com, said in a statement.

CDC shares tacked on 10%, or 47 cents, to $5.11. Google shares were up $1.91, or 0.5%, to $389.63.

Advanced Micro Devices

(AMD) - Get Report

jumped 8.6% after Citigroup upgraded the chipmaker to buy from hold, citing an improved computer market and the potential for more supply agreements with

Dell

(DELL) - Get Report

. The

Wall Street Journal

also reported that Dell is set to announce an expanded alliance with AMD when the computer maker reports its earnings Thursday afternoon. AMD shares were up $1.93 to $24.50.

Meanwhile, Citigroup also upgraded

Hewlett-Packard

(HPQ) - Get Report

following the computer maker's better-than-expected earnings report Wednesday, along with chipmaker

Silicon Labs

(SLAB) - Get Report

. H-P shares were up 4% to $35.84, while Silicon Labs climbed 8% to $37.95.

Conexant Systems

(CNXT) - Get Report

popped 12% Thursday, adding 22 cents to $2.09. The Newport Beach, Calif.-based semiconductor software and device company has been on a tear this week, having already added 12% between Monday and Wednesday's close.

Thursday's technology losers included

Aeroflex

(ARXX)

, which sank 12% after the company fell short of its fourth-quarter earnings targets and guided lower for the first quarter.

The Plainview, N.Y., microelectronics company earned $8 million, or a dime a share, from continuing operations for the quarter ended June 30, rising from $2.2 million, or 3 cents a share, a year ago. Excluding certain items, earnings were 16 cents a share for the latest quarter, missing analysts' expectations by a penny. Revenue rose to $150.5 million from $128 million a year ago. Analysts anticipated a top line of $149 million.

For the first quarter, Aeroflex guided to earnings of 12 cents a share, before items, on revenue of $136 million. Analysts had forecast earnings of 14 cents a share and revenue of $140 million. Aeroflex recently had shed $1.36 to $9.84.

ESS Technology

(ESST)

shares tanked after

Standard & Poor's

said it will drop the digital-processor chipmaker from its SmallCap 600 index after the close of trading Aug. 22. S&P said late Wednesday that ESS had a market capitalization of roughly $53 million, ranking it 600th in the index, and has traded below $2 per share for more than five consecutive days.

Mid-America Apartment Communities

(MAA) - Get Report

will replace ESS in the index. ESS plunged 8.8%, or 12 cents, to $1.24.

The top volume movers on the

Nasdaq

Thursday included

Intel

(INTC) - Get Report

, off 4 cents to $18.57;

Sun Microsystems

(SUNW) - Get Report

, down 9 cents to $4.73;

JDS Uniphase

(JDSU)

, up a penny to $2.51;

Microsoft

(MSFT) - Get Report

, also adding a penny to $24.70;

Cisco Systems

(CSCO) - Get Report

, down 11 cents to $20.99;

Oracle

(ORCL) - Get Report

, up 36 cents to $15.90;

Sirius Satellite Radio

(SIRI) - Get Report

, dropping 8 cents to $3.73;

eBay

(EBAY) - Get Report

, adding $1.63 to $27.45; Dell, up 26 cents to $22.99;

Applied Materials

(AMAT) - Get Report

, up 39 cents to $16.10;

Apple Computer

(AAPL) - Get Report

adding 37 cents to $68.35 and

Marvell Tech

(MRVL) - Get Report

, up 40 cents to $21.06.