Tech stocks were climbing on Thursday in another volatile session, with the Nasdaq up nearly 5% to 1710.

Shares of Yahoo! ( YHOO) leaped 11.7% to $13.12 on investor hopes that Microsoft ( MSFT) would renew its bid to acquire the Internet giant.

Microsoft Chief Executive Steve Ballmer sparked the surge when he reportedly said during a Gartner technology conference Thursday morning that an acquisition of Yahoo! could still "make sense economically."

Microsoft issued a statement soon after, in which it maintained that its position on Yahoo! hasn't changed and that "Microsoft has no interest in acquiring Yahoo; there are no discussions between the companies."

Shares of Microsoft were up 2.9% to $23.31.

eBay ( EBAY) shares continued to plummet one day after it reported a weak outlook for the fourth quarter, in part due to a strengthening dollar overseas and a weakening economy in the U.S.

The stock fell 4.8% to $14.60.

Nokia ( NOK) shares were up 5.2% to $15.89 after the company said that lost market share in the third quarter and reported a 30% decline in profit. Nonetheless, Nokia expects sales to climb for the rest of year, predicting a 10% growth for the industry.

Shares of Texas Instruments ( TXN) dipped as much as 6.3% after Collins Stewart chopped its rating on the stock to sell from hold, and also lowered its earnings and revenue forecasts for the company. The stock narrowed its loss by late afternoon, falling 0.9% to $17.20.

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