Markets
IBM

Sector Update: Tech

Technology stocks were mostly higher with shares of technology companies in the S&P 500 climbing almost 0.6%.

In company news, shares of International Business Machines Corp ( IBM ) were easing from their best levels of Monday's session, holding on to a small gain shortly before the closing bell after today announcing its purchase of a cloud-security services firm.

Financial terms of the transaction for privately held Lighthouse Security Group, a long-time IBM business partner, were not disclosed. The company plans to integrate the Lighthouse Gateway identity management system into IBM's current security offerings as well as its acquisition late last week of security software provider, CrossIdeas.

IBM shares were up 0.5% at $187.56 apiece in late trade, earlier advancing to a session high of $188.36 a share, up about 0.9%. The stock has a 52-week range of $172.19 to $199.21 a share, rising just under 2% over the past 12 months.

In other sector news,

(+) PRKR, Reaches confidential settlement with three shareholders in legal fight dating to late 2011. The settlement will not have a material impact on the company's financial position or operations.

(-) GOGO, Says FY14 EBITDA will be "toward the low end" of its $8 mln to $18 mln forecast range due to increased spending for Supplemental Type Certificates for international service.

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

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


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

In This Story

IBM

Other Topics

Commodities

Latest Markets Videos

    MTNewswires

    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More