Sector Update: Tech Stocks Gain Late Afternoon-January 2024-www.financetom.com

Market

Sector Update: Tech Stocks Gain Late Afternoon

News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities

Sector Update: Tech Stocks Gain Late Afternoon

Nov 7, 2024 1:58 PM

03:58 PM EST, 11/07/2024 (MT Newswires) -- Tech stocks rose late Thursday afternoon, with the Technology Select Sector SPDR Fund (XLK) advancing 1.7% and the SPDR S&P Semiconductor ETF (XSD) adding 1.2%.

The Philadelphia Semiconductor index climbed 2.3%.

In corporate news, Wolfspeed ( WOLF ) shares plunged 39.4%. The company's Mohawk Valley revenue fell short of expectations, and guidance of $60 million in the December quarter and the downward revision for March-quarter revenue to $85 million from $100 million reflect broader demand challenges, Morgan Stanley said.

Freshworks ( FRSH ) shares surged past 28% in recent trading, a day after posting its Q3 results ahead of analysts' estimates and raising its full-year outlook.

EPAM Systems ( EPAM ) shares popped nearly 15% after the company reported higher Q3 adjusted earnings and revenue and raised its outlook for the full year.

AppLovin ( APP ) shares soared 44% in recent trading, a day after the company reported higher Q3 results that beat analysts' expectations.

Previous page： Euro zone government bond yields edge up after Fed's Waller remarks Next page： JGB yields slide with US peers as traders ponder BOJ path

Comments

Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.

Show More Comments

Related Articles >

Euro zone government bond yields edge up after Fed's Waller remarks

Mar 28, 2024

March 28 (Reuters) - Euro zone bond yields edged up on Thursday after Federal Reserve Governor Christopher Waller advocated a higher-for-longer rate strategy in cautious markets ahead of key inflation data, which could affect the central banks' policy path. ** Waller said it was prudent to hold rates at the current restrictive levels for longer to help keep inflation on...

JGB yields slide with US peers as traders ponder BOJ path

Mar 27, 2024

TOKYO, March 28 (Reuters) - Japanese government bond yields sank on Thursday, tracking an overnight decline for U.S. peers, while traders also tried to determine how soon the Bank of Japan could raise interest rates again. The 10-year JGB yield fell 1.5 basis points (bps) to 0.700% as of 0500 GMT, the lowest level since March 6. Five-year yields also...

Sector Update: Energy

Mar 27, 2024

03:25 PM EDT, 03/27/2024 (MT Newswires) -- Energy stocks were gaining late Wednesday afternoon, with the NYSE Energy Sector Index adding 0.6% and the Energy Select Sector SPDR Fund (XLE) up 0.4%. The Philadelphia Oil Service Sector index increased 0.8%, and the Dow Jones US Utilities index jumped 2.1%. US crude oil stocks, including those in the Strategic Petroleum Reserve,...

S&P 500 to add 3M and GE spin-offs, replacing VF and Dentsply Sirona

Mar 27, 2024

March 27 (Reuters) - S&P Dow Jones Indices said on Wednesday that it would add 3M ( MMM ) spin-off Solventum Corp and General Electric ( GE ) spin-off GE Vernova Inc to the benchmark S&P 500 index in coming days. Solventum, which will trade under the 'SOLV' symbol on the New York Stock Exchange (NYSE) will be added to...