Top Tech Stocks
Technology stocks were mostly higher today with shares of technology companies in the S&P 500 rising about 0.7% in afternoon trade.
In company news, NCR Corp ( NCR ) shares climbed to a 14-month high on Tuesday after private equity firms Blackstone ( BX ) and the Carlyle Group ( CG ) reportedly were considering a $10 billion leveraged buyout of the cash register and transaction equipment manufacturer.
Other buyout firms likely to bid for NCR include Apollo Global Management LLC ( APO ) and Thoma Bravo LLC, people familiar with the matter told Reuters, adding an auction for the company probably won't occur for several more weeks.
NCR shares were up over 11% at $34.86 each this afternoon on the news, earlier rising to their highest share price since April 2014 at $36.50 a share. Entering today's session, the stock had dropped nearly 6% over the past 12 months.
BX was down about 0.3% at $42.10 a share in late trade, while CG shares were up nearly 1% at $28.39 apiece. APO shares were down about 0.2% at $21.27 each shortly before the closing bell.
In other sector news,
(+) ETAK, Agrees to $13.5 mln settlement with lusacel, which will pay $12.6 mln in cash and the rest in exchange for certain obligations as the companies end their relationship.
(-) KEYW, Former Board Chairman and CEO Len Moodispaw dies yesterday, less than a month after retiring for undisclosed health reasons. The company founder was 72.
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