Technology

Technology Sector Update for 04/12/2017: ACN,BBRY,QCOM,OCLR,UBSI,WWAV

Top Tech Stocks

MSFT -0.34%

AAPL -0.08%

IBM +0.21%

CSCO -0.93%

GOOG +0.32%

Technology stocks declined again on Wednesday, with shares of tech companies in the S&P 500 decreasing 0.3%.

In company news, Accenture ( ACN ) was narrowly lower late Wednesday after the technology consulting company's early afternoon purchase of the ClosingBridge electronic file delivery and communications platform from BeesPath.

Financial terms of the acquisition were not disclosed. In prepared remarks, Accenture said it is merging the ClosingBridge platform with its Mortgage Cadence product suite and has re-branded it as Collaboration Center. Initially, the platform - which manages the communications between borrowers, co-borrowers, real estate agents, sellers and others involved with mortgage transactions - will be available as a standalone product.

ACN shares were down about 0.3% at $115.72 apiece, bouncing off a session low of $115.57 a share soon after the company's mid-day announcement.

In other sector news,

(+) BBRY, Binding interim arbitration award requires Qualcomm ( QCOM ) to refund $814.9 mln, plus interest and attorneys' fees, to BlackBerry to compensate for certain past sales of subscriber units between 2010 to 2015.

(-) OCLR, Replaces UnitedBankshares ( UBSI ) in the S&P SmallCap 600 index prior to Wednesday's opening bell after the bank company was promoted to take WhiteWave Foods' ( WWAV ) place in the S&P MidCap 400 index.

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

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