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 - Cramer on HPQ - Stock Picks) 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 - Cramer on TTWO - Stock Picks) and Electronic Arts(ERTS Quote - Cramer on ERTS - Stock Picks), 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 - Cramer on RNOW - Stock Picks) 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 - Cramer on CRM - Stock Picks) announced its intention to buy privately held Instranet for software.

Shares of Mentor Graphics(MENT Quote - Cramer on MENT - Stock Picks) 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.