Diamonds and Dogs
9/19/14Concur Technologies Inc. (CNQR)
Concur Technologies is flying high today, up 17.95% to $127.15. The travel and expense management company saw its shares pop after news of a buyout. German company SAP confirmed that it would buy Concur for $129 per share in a deal worth about $7.3 billion. The deal represents a 20% premium to Concur's closing price on Wednesday. Shares of Concur are up over $19.00 today and are trying to break through their 52-week high of $130.39.
Oracle Corporation (ORCL)
Oracle is clouding investor's future today, down 4.89% to $39.52. The software, database, and cloud company saw its shares fall after co-founder, Larry Ellison, stepped down as CEO after worse than expected earnings. For the first quarter, management announced an EPS of $0.62 on revenue of $8.6 billion. Both numbers missed analysts' estimates of $0.64 per shares on revenue of $8.8 billion. Investors seem nervous with both the missed earnings and Ellison's departure, as shares fell over $2.00 today.