Tech Five: HP to resume share buybacks

Shares of chip maker Intel are trading slightly lower despite topping Wall Street estimates. Let's look at the tech stocks to watch Wednesday:

HP. The computer maker will resurrect its share repurchasing program that will run through the company's fiscal 2015 year. The goal of HP's program is to return at least 50% of free cash flow to shareholders. "We are confident in our strategy and our ability to execute, and continue to believe our share price does not reflect HP's intrinsic value," says HP CFO Cathie Lesjak in a statement.

Intel. The tech company reported net income of $3.32 billion for the third quarter, and an earnings per share of 66 cents. Although PCs -- a core part of Intel's business -- have ceded ground to tablets and smartphones, Intel says chips for PCs accounted for $9.2 billion in quarterly revenue.

Activision. Subscriptions for the Blizzard massively multiplayer online game World of Warcraft are on the rise. According to a statement announcing a pre-launch patch for expansion Warlords of Draenor, the game boasts 7.4 million subscribers, up from 6.8 million revealed during Activision's second quarter results. Warlords of Draenor launches next month.

Qualcomm. The tech company announced it will acquire wireless tech firm CSR for $2.5 billion. Qualcomm is expected to close the deal by summer 2015.

Netflix. The streaming media giant reports third quarter earnings after the markets close Wednesday. Last quarter, Netflix doubled earnings while adding 1.7 million new streaming subscribers.

Follow Brett Molina on Twitter: @brettmolina23.