12:20 PM New York – Concur agreed to acquire by Germany-based SAP for $7.3 billion. Hyatt affiliates sell 38 hotels to Lone Star Funds for about $590 million. Marcus net declined 7%. Oracle net was flat but revenue jumped 3%. Red Hat profit jumped 15%. Tibco Software net tumbled 88%.
Tollbooth Index fell 0.2% or 17.28 to 9,518.82.
Concur Technologies, Inc
) surged 18% or $19.40 to $127.20 after the cloud computing software solution provider agreed to be acquired by Germany-based business software maker SAP SE for $7.3 billion in cash.
SAP offered $129 per share for Concur, a 20% premium over the closing price of September 17.
Shares of SAP declined 3.8% to €57.62.
Hyatt Hotels Corporation
) increased 42 cents to $63.80 after the hotel operator said that its affiliates agreed to sell 38 hotels to a company managed by Lone Star Funds for about $590 million.
The transaction is expected to be completed in November.
The Marcus Corporation
) gained 1.9% or 33 cents to $17.53 after the movie theatre, hotel and resort operator said total revenue in first-quarter ending in August grew 2.1% to $131.8 million yen from a year ago period.
Net income in the quarter declined 7.4% to $12.4 million or 45 cents a diluted share compared to $13.4 million or 50 cents from a same quarter last year.
) plummeted 5.2% or $2.15 to $39.40 after the software developer reported sales in first-quarter ending in August jumped 3% to $8.60 billion yen from a year ago period.
Net income in the quarter nearly flat at $2.18 billion or 48 cents a diluted share compared to $2.19 million or 47 cents from a same quarter last year.
Red Hat Inc
) declined 4.9% or $3 to $57.66 after the open source software solution provider said total revenue in the second-quarter ending in August surged 19% to $446 million from a year ago period.
Net income in the quarter jumped 14.6% to $46.8 million or 25 cents a diluted share compared to $40.8 million or 21 cents from a same quarter last year.
Tibco Software Inc
) plunged 4.7% or 98 cents to $19.81 after the infrastructure software provider total revenue in the third-quarter ending in August dropped 5.6% to $255.6 million from a year ago period.
Net income in the quarter tumbled 87.8% to $2.6 million or 2 cents a diluted share compared to $21.3 million or 13 cents from a same quarter last year.