NEW YORK ( TheStreet) -- Shares of Research In Motion ( RIMM) and Oracle ( ORCL - Get Report) surged in pre-market trading following the companies' quarterly results on Thursday, although Hewlett-Packard's ( HPQ - Get Report) stock was down slightly despite a media report that the firm is close to appointing its new CEO.


BlackBerry maker RIM, which is facing stiff competition from Apple's ( AAPL - Get Report) iPhone, beat Wall Street's expectations with its second-quarter results, driving the company's stock northward on Friday. RIM shares rose $1.86, or 4%, to $48.35 before market open, boosted by healthy third-quarter guidance.

Speaking during a conference call to discuss the results, RIM CEO Jim Balsillie explained that the company had shipped 12.1 million devices during the second quarter, up 45% from a year ago.

"Reports of RIM's death are greatly exaggerated," wrote Needham & Company analyst Charlie Wolf, in a note released on Friday, maintaining his 'buy' rating on the company.

Despite strong international sales, there are, however, some big clouds still hanging over RIM. The phone giant added just 4.5 million net new BlackBerry subscribers in the quarter, below its forecast to add between 4.9 million to 5.2 million new accounts in the period.


Database giant Oracle, which recently recruited ousted Hewlett-Packard ( HPQ - Get Report) CEO Mark Hurd, is also getting plenty of investor love following strong first-quarter results.

The company's software business grew "strongly" in all regions, according to Oracle, which said that its Exadata database machine continued to win new customers.

Shares of Oracle rose $10.98, or 3.86%, to $26.34 before market open, and analysts are also expecting some big announcements at Oracle's OpenWorld event next week.

"We see two significant drivers for this stock over the next 12 to 24 months: an upgrade cycle based on the Fusion Applications, which Oracle may release next week, and incremental sales from Oracle's Exadata product line, which should see two new extensions announced next week," explained Pat Walravens, an analyst at JMP Securities, in a note.


HP is close to appointing a successor to Mark Hurd, according to Bloomberg, which says that the tech giant is leaning towards an internal candidate.

Citing a person familiar with the matter, Bloomberg reports the short list includes Vyomesh Joshi, who runs HP's printer business; Todd Bradley, head of the personal-computer division; Dave Donatelli, who runs the storage and server unit; Tom Hogan, executive vice president of enterprise sales and marketing; and Ann Livermore, executive vice president of the enterprise business.

The company's new CEO could be announced in the coming week, according to the report.

The news, however, did little for HP's shares in pre-market trading, which dipped 5 cents, or 0.12%, to $40.30.

--Written by James Rogers in New York.

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