Technology

Technology Sector Update for 09/06/2017: ACN,QUIK,TRVG

Top Tech Stocks

MSFT -0.15%

AAPL -0.09%

IBM +0.62%

CSCO +0.89%

GOOG +0.10%

Technology stocks managed to eke out small gains in recent Wednesday trade, with shares of tech companies in the S&P 500 rising slightly less than 0.2% this afternoon.

In company news, Accenture ( ACN ) climbed to a new record high on Wednesday, adding slightly more than 1% in new value today to reach a best-ever $131.35 a share after the technology consulting firm said it was buying a smaller, privately held rival, IBB Consulting, for an undisclosed sum.

The deal is expected to strengthen Accenture's reach with communications, media and other technologies companies. About 160 employees from IBB's current workforce are expected to stay with the company once the transaction closes.

In other sector news,

(+) QUIK, Significantly increases the number of engagements with hearable companies and fills three newly created senior level positions to support growth of its EOS S3 sensor processing platform. Also renews line of credit with Silicon Valley Bank with improved covenants.

(-) TRVG, Falls to record low share price after paring expected Q3 revenue growth to 40% from prior forecast expecting 50% year-over-year growth. Also expects financial results for the rest of the year will be softer than previously forecast.

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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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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