Cloud Stocks Up on Oracle/Taleo Deal

NEW YORK ( TheStreet) -- Oracle's ( ORCL) $1.9 billion acquistiion of talent management software company Taleo ( TLEO) helped boost cloud stocks on Thursday.

The acquisition is Oracle's biggest play in the cloud computing space, which lets businesses store their data on remote servers on the Web. It also comes on the heels of SAP's ( SAP) $3.4 billion acquisition of SuccesFactors ( SSF) in December.

Here's how other cloud-based stocks are faring.

Cloud leader Salesforce ( CRM) saw shares rise to 2% in late trading Thursday to $126.23.

Shares of virtualization software company VMWare ( VMW) increased 0.9% to $95.05.

Rackspace ( RAX) shares jumped 1.2% to $49.62.

Shares of cloud-based software company NetSuite ( N), meanwhile, are down 0.2% to $46.39

-- Written by Olivia Oran in New York.

>To follow the writer on Twitter, go to http://twitter.com/Ozoran.

>To submit a news tip, send an email to: tips@thestreet.com.

More from Technology

Listen: Will Smart Technologies Woo Millennials Back to Motorcycle Riding?

Listen: Will Smart Technologies Woo Millennials Back to Motorcycle Riding?

Pegasystems Founder Explains Why He Has One of the Hottest Tech Stocks Around

Pegasystems Founder Explains Why He Has One of the Hottest Tech Stocks Around

Tesla's $78,000 Model 3 Is a Bargain. Here's Why

Tesla's $78,000 Model 3 Is a Bargain. Here's Why

Tesla Model 3 Delivery Time Falls, but Will It Help the Stock?

Tesla Model 3 Delivery Time Falls, but Will It Help the Stock?

Baidu Stock Plummets After COO Qi Lu Resignation

Baidu Stock Plummets After COO Qi Lu Resignation