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： Earnings Coupled With Surge in Wage Growth Drag US Equity Indexes Next page： Wall Street loses ground as US treasury yields build up lead

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 >

Earnings Coupled With Surge in Wage Growth Drag US Equity Indexes

Apr 30, 2024

01:01 PM EDT, 04/30/2024 (MT Newswires) -- US equity indexes fell and government bond yields surged Tuesday after stronger-than-expected growth in the Federal Reserve's preferred measure of wage growth in Q1. The S&P 500 fell 0.8% to 5,077.4, with the Nasdaq Composite down 0.9% to 15,842.2 and the Dow Jones Industrial Average 1% lower at 37,956.1. All the sectors were...

Wall Street loses ground as US treasury yields build up lead

Apr 30, 2024

US stock indices declined on Tuesday as US treasury yields gain ground following data. Earlier US data showed labor costs rose 1.2% in the first quarter, passing estimates of a 1% increase, and becoming the largest increase since the third quarter of 2022. US 10-year treasury yields rose by 4.5 basis points to 4.659%, while 30-year yields rose by 3...

Sector Update: Energy

Apr 30, 2024

01:27 PM EDT, 04/30/2024 (MT Newswires) -- Energy stocks were lower Tuesday afternoon, with the NYSE Energy Sector Index falling 2.3% and the Energy Select Sector SPDR Fund (XLE) down 2.1%. The Philadelphia Oil Service Sector index was posting a 3.5% drop, and the Dow Jones US Utilities index was fractionally lower. Front-month West Texas Intermediate crude oil was declining...

Sector Update: Tech

Apr 30, 2024

01:33 PM EDT, 04/30/2024 (MT Newswires) -- Tech stocks were lower Tuesday afternoon, with the Technology Select Sector SPDR Fund (XLK) and the SPDR S&P Semiconductor ETF (XSD) each falling 1.2%. The Philadelphia Semiconductor index was down 1.2%. In corporate news, F5 (FFIV) shares tumbled past 7% after fiscal Q2 revenue declined more than forecast. The company also issued fiscal...