Tech Down As Traders Eye Valuations -- Tech Roundup
September 19 2014 - 05:54PM
Dow Jones News
The tech sector gave back some of its recent gains as some saw
Alibaba Group's stock-market debut as the peak of a trend toward
overvaluing tech stocks. Shares of the Chinese ecommerce giant were
priced at $68 apiece in Thursday's initial-public offering and
traded hands for almost $100 a share during their debut session.
Yahoo shares declined, despite the accrual of billions of dollars
in gains from the U.S. Internet portal's holdings in Alibaba.
Apple dipped even as the Silicon Valley giant's iPhones went on
sale in stores around the globe, inspiring long lines wrapping
around city blocks. Concur rallied after the maker of software that
helps employees manage expense accounts agreed to a buyout from
German business software giant SAP for $8.3 billion.
-Rob Curran, rob.curran@dowjones.com
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