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Concur Technologies Inc. (CNQR) Broke Out Sharply After Merger Agreement

Concur Technologies Inc. (CNQR) announced after the close Thursday that it agreed to be acquired by SAP America Inc., a subsidiary of SAP.

Concur Technologies gapped open dramatically higher Friday morning, but moved in a narrow range throughout the session. The stock closed up by 19.02 at $126.82 on the highest volume of the year. Concur Technologies broke out of a 2 1/2 week range and set a 6 1/2 month high.

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A busy week for economics saw the release of first quarter growth figures for the U.S. economy and the interest rate decision in Japan. Read our stories to find out why the GDP data damped market sentiment in the U.S. and what were the signals given out by the Bank of Japan. Other news this week included new home sales data and jobless claims figures from the U.S., and the latest purchasing managers' survey results for the Eurozone.

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