Technology Sector Update for 05/02/2016: EPAY,OPWR,ORCL,CDRB

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Top Tech Stocks

MSFT +1.33%

AAPL -0.41%

IBM -0.43%

CSCO -0.36%

GOOG +1.05%

Technology stocks rose Monday afternoon, with shares of tech companies in the S&P 500 climbing from their break-even marks earlier today to a 0.6% advance in more recent trading.

In company news, Bottomline Tech ( EPAY ) was narrowly higher in late trade after the software and electronic payments company today announced it plans to begin buying shares under its previously authorized $20 million stock buyback program.

"We believe our stock is an attractive investment opportunity at current levels," chief financial officer Rick Booth said in prepared remarks.

EPAY shares were up almost 1% at $24.69 apiece, backing down from an morning run as high as $25.51 a share.

In other sector news,

(+) OPWR, Receives $532 mln buyout offer from Oracle ( ORCL ), which will pay $10.30 in cash for each OPWR share, a 30.4% premium over Friday's closing price for the stock.

(-) CDRB, Discloses consulting agreement with SLD Capital Group, issuing 250,000 shares of its stock in lieu of cash compensation. Also issues five-year warrant to buy 250,000 more shares at $2.25 each.

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This article appears in: Technology , Commodities
Referenced Symbols: EPAY , ORCL ,

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