Veracode bought by CA Technologies for $614 million

SOFTWARE

Veracode bought by CA Technologies for $614 million

Burlington-based Veracode, which runs security tests on corporate software, is being acquired by enterprise software vendor CA Technologies for $614 million in cash. The deal is expected to close sometime this spring. Veracode’s chief executive, Bob Brennan, will remain in charge at the company, which employs over 500 people worldwide. CA Technologies is a major maker of software for massive mainframe computer systems, and is a major vendor of authentication software for locking down access to data networks. Privately owned Veracode, founded in 2006, helps companies identify and correct software security flaws that could compromise their systems. “As we join forces we can help our customers have an integrated solution,” said CA executive vice president Jacob Lamm. — HIAWATHA BRAY

EXERCISE

Fitbit turns from walking to sleeping

Fitbit, whose devices encourage people to walk 10,000 steps each day, now wants to put them to sleep as well. The company said data collected by the millions of Fitbit trackers in use show that people are averaging less than seven hours of sleep a night, the amount recommended by the Centers for Disease Control and Prevention. And the Z’s people do get aren’t necessarily the right kind of sleep. So Fitbit will offer deeper sleep tracking on some of its devices.
— ASSOCIATED PRESS

CAMERAS

GoPro continues to struggle

GoPro Inc. fell to a record low Monday after Goldman Sachs Group became the second firm in days to recommend selling the stock, highlighting the camera maker’s struggles to compete in an increasingly competitive market and overcome missteps with new products. The shares fell nearly 8 percent to close at $8.14. On March 3, Citigroup Global Markets Inc. initiated coverage of the stock with a sell recommendation and a price target of $8. Citi analyst Stanley Kovler called the company the “best house in a deteriorating neighborhood.” — BLOOMBERG NEWS

DRESS CODE

Flats are OK in London offices now

In a debate that has gone from office corridors to Britain’s Parliament, lawmakers put their foot down Monday and told employers to stop making women wear high heels as part of corporate dress codes. Members of Parliament debated a ban on mandatory workplace high heels, in response to a petition started by a receptionist who was sent home without pay for wearing flat shoes. Labor lawmaker Helen Jones, who helped lead a parliamentary investigation into dress codes, said she and her colleagues were shocked by what they found. ‘‘We found attitudes that belonged more — I was going to say in the 1950s, but probably the 1850s would be more accurate, than in the 21st century,’’ she told lawmakers at Parliament’s Westminster Hall. Monday’s debate was triggered by the experience of Nicola Thorp, who was told in December 2015 that her flats were unacceptable for a temporary assignment in London with finance firm PwC. Her employment agency, Portico, had a dress code specifying that female workers must wear non-opaque tights, have hair with ‘‘no visible roots,’’ wear ‘‘regularly re-applied’’ makeup — and appear in shoes with a heel between 2 and 4 inches. She started an online petition, calling formal workplace dress codes ‘‘outdated and sexist.’’ It has gathered more than 150,000 signatures, making it eligible for a debate in Parliament. — ASSOCIATED PRESS

SOCIAL MEDIA

Snap shares fall

After a euphoric public market debut, Snap Inc. shares dropped for the first time in three days after analysts began weighing in with their thoughts on the company’s true valuation. The parent company of disappearing-photo app maker Snapchat priced shares in its initial public offering last Wednesday and they surged 44 percent on the first day of trading. On Friday the stock climbed a further 11 percent. By Monday, five of the seven analysts who cover the company had a “sell” rating on it while two said “hold.” No analyst recommends buying the stock, according to data compiled by Bloomberg. Not all analysts are able to give their opinion on the stock yet, since those who work at banks involved in the IPO are prevented from doing so for a while. Snap fell more than 12 percent to close at $23.84. — BLOOMBERG NEWS

AUTOMOTIVE

GM to lay off 1,100 workers in Mich.

General Motors Co. is laying off 1,100 workers at an assembly plant in Michigan. GM says it’s ending the third shift at its Lansing Delta Township plant because one of its products, the GMC Acadia SUV, is moving to Spring Hill, Tenn. The Lansing plant will still have two shifts building the Buick Enclave and Chevrolet Traverse SUVs. Lansing’s last day as a three-shift plant will be May 12. GM announced last spring that it would make the new Acadia in Tennessee. It has added a third shift and around 800 jobs to its plant in Spring Hill. — ASSOCIATED PRESS

GASOLINE

Prices are down for the sixth week

Gasoline prices in Massachusetts are down again, the sixth consecutive week of lower prices at the pump. AAA Northeast reported Monday that self-serve, regular gasoline was selling for an average of $2.15 per gallon, 2 cents lower than last week. The cost was also 16 cents lower than the national average for the same grade, but 45 cents higher than the Bay State price a year ago. AAA found self-serve, regular selling for as low as $2.01 per gallon and as high as $2.39.
— ASSOCIATED PRESS

AIRLINES

Shares fall on Delta forecast, new travel ban

US carriers fell the most in five weeks as Delta Air Lines cut its forecast for a key revenue gauge and President Trump issued a revised order restricting entry by people from six predominantly Muslim countries. Passenger revenue for each seat flown a mile — a closely watched measure of pricing power — will be flat this quarter, Atlanta-based Delta said in a presentation Monday. The carrier said in January that the benchmark gauge, known as unit revenue, could rise as much as 2 percent after two years of declines. US airlines have been slowing growth of flights and seats to gain more pricing power over fares. Delta on Monday also lowered its outlook for first-quarter operating profit margin to 10 percent to 11 percent from an initial forecast of 11 percent to 13 percent. — BLOOMBERG NEWS