Market Overview

Qlik Technologies Jumps 7% Amid Potential Sale


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


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