Market Overview

Qlik Technologies Jumps 7% Amid Potential Sale

Share:

Shares of Qlik Technologies Inc (NASDAQ: QLIK), a provider of user-driver business intelligence solutions, were trading higher by more than 7 percent early Monday morning.

Reuters on Friday reported Qlik Technologies is exploring strategic alternatives, including a sale of itself as the company has come under pressure from a major shareholder and activist investor, Elliott Management.

Elliot Management disclosed an 8.8 percent stake in Qlik Technologies earlier this month and urged management to sell itself to a larger peer. The activist investor noted that Qlik Technologies' product set and competitive positioning is "not reflected" in its current stock price.

Reuters added Qlik Technologies is working with bankers at Morgan Stanley to explore its strategic alternatives, but there is no certainty that the company will ultimately sell itself.

The stock was trading up about 7.6 percent at $28.68 in Monday's pre-market session.

Posted-In: activist investor Elliott Management qlik technologies ReutersNews Rumors Movers

 

Related Articles (QLIK)

View Comments and Join the Discussion!
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com