Sector Update: Tech Stocks Finishing Higher; Imperva Names New CEO
Top Tech Stocks
Technology stocks were trending higher Tuesday with shares of technology companies in the S&P 500 gaining about 0.6%.
In company news, Imperva Inc. ( IMPV ) was set to close higher Tuesday after the enterprise security software firm late yesterday named a new chief executive officer.
Anthony Bettencourt comes to IMPV from privately held Coverity Inc., where he also was CEO of the development-testing firm. He replaces IMPV founder Shlomo Kramer, who will remain at the company as its chief strategy officer.
Bettencourt also was named to the IMPV board of directors.
MPV shares were up more than 8% at $29.77 apiece in late trade, easing slightly from their session high at $29.84 a share. The stock has traded within a 52-week range of $18.40 to $67.12 a share, sliding over 36% during the past 12 months.
In other sector news,
(+) RAX, Blue Harbour Group LP boosts stake to 9.098 mln shares, or about 6.4% of its stock, up from 2.5% in June. The hedge fund said it has talked with the company about strategic alternatives, adding it "may take other steps" to increase shareholder value.
(-) PWRD, Q2 revenue rises 32.6% year over year to $149.6 mln (RMB928.4 mln), narrowly trailing Street view looking for $150 mln. Non-GAAP EPS of $0.55 beat Capital IQ consensus by $0.10 per share. Guides Q3 revenue in-line with $160.3 mln consensus.
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