Technology Stocks, Carried by Microsoft, Ending Higher; Expedia Rises After Travelocity Marketing Pact

By
A A A

Top Tech Stocks

MSFT +7.30%

AAPL -0.46%


IBM +0.03%

CSCO -0.23%

GOOG -0.32%

Technology stocks are higher with shares of technology companies in the S&P 500 rising about 0.7%.

In company news, Expedia Inc ( EXPE ) is up nearly 6% in late trade at $49.21 a share, rising as high as $51.31 today after the travel-reservations website announced a strategic marketing agreement with its longtime rival Travelocity.

Under terms of the exclusive, long-term strategic marketing agreement, EXPE will power the technology platforms for Travelocity's existing websites in the U.S. and Canada while providing Travelocity access to its supply and customer services.

Travelocity will remain wholly-owned by Sabre Holdings Corp, independent of EXPE. The deal also does not include Travelocity's partner network or its lastminute.com website in Europe. Both firm were beginning development on the marketing pact immediately, with a launch planned sometime during 2014.

In other sector news,

(+) MSFT, CEO Steve Ballmer announces plans to retire within the next 12 months once a successor is identified and hired.

(-) P, Expects to earn between $0.03 to $0.06 per share, ex items, in Q3, lags Thomson Reuters consensus by at least $0.02. Issues in-line EPS guidance for 12 months ending in January. Q2 EPS of $0.04, ex items, on 55% rise in revenue both top estimates.



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: EXPE

MT Newswires

MT Newswires

More from MT Newswires:

Related Videos

Stocks

Referenced

Most Active by Volume

124,429,622
  • $47.87 ▲ 10.45%
86,937,934
  • $9.99 ▲ 6.28%
74,401,985
  • $7.92 ▲ 11.24%
43,464,235
  • $59.64 ▲ 0.69%
42,148,695
  • $130.28 ▲ 0.47%
41,471,941
  • $34.01 ▼ 0.64%
40,701,089
  • $11.99 ▼ 8.75%
39,983,675
  • $15.64 ▼ 0.32%
As of 4/24/2015, 04:15 PM


Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com