Tech Stocks Falling Hard in Selloff; Blackbaud Gains After Naming Interim CEO, Stifel Upgrade


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Technology stocks are lower this afternoon, with shares of technology companies in the S&P 500 sliding nearly 1.6%.

In company news, Blackbaud Inc. ( BLKB ) is up 2.4% this afternoon at $36.00 a share after late Monday adding interim chief executive responsibilities to Chief Financial Officer Anthony Boor's job portfolio, effective Aug. 31.

Boor will be interim president and CEO until a permanent CEO is appointed, the software company said. "We remain focused on completing our search for our permanent CEO, board chairman Andrew Leitch said in prepared remarks, adding the search committee is "pleased" with high quality of candidates under consideration.

Shares also are getting a lift from an upgrade to Buy from Hold at Stifel Nicolaus.

In other sector news,

(+) FTNT, (+0.6%) CNBC's Jim Cramer touts the Internet security company as a potential winner as the sector overcome current macro-economic conditions. He also mentions Fortinet Inc. ( FTNT ), down 0.9%.

(-) LMOS, (-7.9%) Fiber-based network services provider files S-3 registration statement making 5.7 mln shares held by Quadrangle Funds eligible for future sale. Company says Quadrangle has said it has no current plans to sell any of its shares.

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 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: BLKB , FTNT

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