Technology stocks were mostly lower Wednesday with shares of
technology companies in the S&P 500 losing almost 0.7%.
In company news, Concur Technologies (
) leapt as much as 9% Wednesday following reports the software firm
is exploring a potential sale.
CNQR shares were up 6.7% in recent trade at $107.68 apiece,
earlier rising to a session high of $109.84 a share. The stock has
traded within a 52-week range of $74.43 to $130.39 a share,
climbing less than 2% over the past 12 months prior to today's
Company officials were working with investment bankers on the
sale and already have reached out to gauge interest among several
possible suitors, including SAP SE (
), Bloomberg reported last night, citing people who asked not to be
identified because the information is private.
CNQR also reached out to Oracle (
), which decided not to pursue a deal, one of the people told
The company makes software that helps companies and other large
organization manage business travel and expenses. It is projected
to generate around $691.67 million during its fiscal year ending
later this month, according to Capital IQ.
In other sector news,
(+) ISNS, (+34.9%) Continues to rally on rising demand by police
departments and other law-enforcement authorities for body
(-) AVNW, (-7.7%) Adjusted Q4 net loss of $0.13 per share misses
consensus by $0.06. Revenue declines 21.2% year over year to $85.9
mln, beating Street view by $890,000. Q1 revenue outlook trails
estimates by at least $4.04 mln.
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