Salesforce.com, Qualcomm: Tech Winners

NEW YORK ( TheStreet) -- Salesforce.com ( CRM) was a big gainer Wednesday, mirroring the Nasdaq's advance of 21 points.

Salesforce.com was closed up 4.8% to $142.20 on Wednesday, as Morgan Joseph initiated coverage on the company with a buy rating. Shares of the cloud computing firm are up 63% over the last six months.

Broadband phone company Vonage ( VG) closed up more than 14% to $2.63 as the company forecast fourth quarter 2010 EBITDA of $40 million, ahead of analyst expectations.

Vonage also said it had added 6,000 lines in its most recent quarter, the company's first quarterly subscriber gain in two years.

Google ( GOOG) jumped 1.1% to $609.07, as the company won a ruling in its lawsuit against the Interior Department. Google had accused the government agency of favoring Microsoft ( MSFT) in a contract bid for a new e-mail system.

Qualcomm ( QCOM) closed up 2% to $52.03. Earlier in the day the company announced it would acquire chipmaker Atheros Communications ( ATHR) for $3.1 billion.

The acquisition, at $45 per share, bolsters Qualcomm's access to WiFi technology. It also puts pressure on Qualcomm rivals like Broadcom ( BRCM) to add more features to their own chips.

Shares of Broadcom rose 1.8% to $43.98.

On the flip side, Microsoft ( MSFT) fell 0.3% to close at $28.00, as reports surfaced that its Kinect device had caused some Xbox consoles to freeze up. Microsoft has denied that the Kinect caused these failures.

--Written by Olivia Oran in New York.

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