Tech Winners & Losers: H-P

Tech stocks ended Wednesday on a positive note, with the Nasdaq ending a streak of three straight losing sessions to close up 0.2% to 2389 points.

Shares of Hewlett-Packard(HPQ Quote) climbed 5.7% to $46.16 after the computer maker surpassed Wall Street estimates for the third quarter.

H-P's third-quarter profit grew 14% from a year ago while its revenue jumped 10%. CEO Mark Hurd told analysts on Tuesday that the company now has flexibility to focus more exclusively on higher-margin products.

In the ongoing dance between video-game developer Take Two(TTWO Quote) and Electronic Arts(ERTS Quote), the Federal Trade Commission completed its investigation of a possible merger and concluded that no additional action was necessary. The FTC had posed a potential impediment to a deal, but now the two companies will be left to hash out their issues without any interference.

Shares of Take Two were up 5.5% to $24.34 while Electronic Arts was up 1.4% to $47.06. Both companies agreed earlier this week to enter into private discussions.

RightNow Technologies(RNOW Quote) saw its stock slip 5.8% to $15.87. The company, which sells software to automate customer support, may be feeling some pressure after Salesforce.com(CRM Quote) announced its intention to buy privately held Instranet for software.

Shares of Mentor Graphics(MENT Quote) climbed almost 10% to close at $11.48. The developer of software tools for semiconductor makers beat second-quarter expectations on Wednesday, while reaffirming full-year guidance.