Tech Winners & Losers: Oracle

Tech stocks were on a climb Thursday, along with the rest of the major market indices, as hopes for a federal bailout of financial firms took hold.

The Nasdaq was up 2.2% to 2203.

Oracle(ORCL Quote) shares got a lift after the software company announced that it was teaming up with Hewlett-Packard(HPQ Quote) to sell business computers pre-packaged with its database programs.

Oracle was up 3.8% to $20.70. Hewlett-Packard was also up, gaining 2.9% to $48.15.

Shares of Transmeta(TMTA Quote) were soaring 20.4% to $16.25 after the company revealed that it has started the process of trying to sell the company. The microchip designer also noted late Wednesday that it has entered into two licensing agreements with Intel(INTC Quote), which will result in the chipmaker paying it $91.5 million before the end of the current quarter.

Shares of Research In Motion(RIMM Quote) were up 3.8% to $100.37 in anticipation of its second-quarter results after the closing bell.

The maker of the BlackBerry is expected to post a profit of 87 cents a share on revenue of $2.59 billion, according to Thomson Reuters. That would mark a nearly 90% increase over last year in the same period if the company matches estimates.

Red Hat(RHT Quote) shares were taking a fall on Thursday after the software company offered a third-quarter earnings outlook short of Wall Street expectations. The stock was down 6% to $16.82.