Shares of tech companies rose as investors clamored for shares of software companies. Shares of Appian, which helps corporations develop digital applications, surged on its stock-market debut.
"Software continues to 'eat the world' as more and more budget dollars are attributed for enterprises to digitally transform themselves," said analysts at brokerage Morgan Stanley, in a research note. "We see multiple avenues for software vendors to tap into this sizable opportunity--make software 1) easier to develop, 2) more capable of automating different types of work, and/or 3) cheaper to use."
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-Rob Curran, email@example.com
(END) Dow Jones Newswires
May 25, 2017 16:39 ET (20:39 GMT)