Tech Stocks Ending Slightly Lower; Pegasystems Expands Stock-Buyback Program

By
A A A
Share |

Top Tech Stocks

MSFT -0.87%

AAPL -0.46%

IBM -1.06%

CSCO +1.50%

GOOG -0.18%

Technology stocks are slightly lower today with shares of technology companies in the S&P 500 falling less than 0.1%.

In company news, Pegasystems Inc. ( PEGA ) is down 0.8% in late trade at $48.20 a share, well under its $48.93 intra-day high that followed the business software company extending its stock buyback program through Dec. 31, 2014, authorizing up to $15 million more of its shares.

Since the start of the year, PEGA had purchased 378,073 shares at an average of $31.62 each, or about $11.8 mln overall, through Dec. 11.

In other sector news,

(+) FTR, Announces deal to acquire AT&T's ( T ) wireline residential and business services and associated assets in Connecticut for $2 bln in cash. Acquisition is seen adding to per-share free cash flow during the first year after closing.

(-) TWTR , Atlantic Equities downgrades the micro-blogging service, cutting its rating to Neutral from Overweight but boosting its price target by $16 to $50 a share. Thirteen of 17 analysts tracking TWTR now have ratings of Hold or worse for the stock.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: PEGA , T

MT Newswires

MT Newswires

More from MT Newswires:

Related Videos

Stocks

Referenced

100%
66%

Most Active by Volume

89,970,926
  • $16.15 ▲ 0.12%
77,131,582
  • $58.94 ▼ 1.31%
67,336,935
  • $26.56 ▲ 1.68%
48,814,124
  • $86.20 ▲ 0.02%
47,526,126
  • $23.21 ▲ 0.78%
44,660,424
  • $23.91 ▲ 6.36%
38,799,699
  • $4.289 ▲ 4.36%
36,199,890
  • $40.01 ▼ 0.97%
As of 4/17/2014, 04:07 PM