BUZZ-PTC falls after report says Autodesk no longer pursuing buyout** Software firm PTC's PTC.O shares fall 4.5% to $184.90; Autodesk shares ADSK.O rise 6.8% to $299.48 before the bell
** ADSK is no longer pursuing an acquisition of PTC, Bloomberg News reports, citing people familiar with the matter
** The software provider has decided to shelve its work on a potential cash-and-stock deal for PTC - report
** In a regulatory filing, Autodesk says it remains focused on executing its "strategic priorities," which also include "targeted and tuck-in acquisitions"
** As of last close, ADSK down ~5% and PTC up ~5%, this year
(Reporting by Jaspreet Singh in Bengaluru)
((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.