24H | Chip and Optical Communication Stocks Drop Again; Keysight Rises 3% After Earnings

US Overnight08:20

Dow Futures fell 0.07%, S&P 500 Futures fell 0.15%, Nasdaq Futures fell 0.41% as risk appetite cooled amid tech weakness.

Chip stocks dropped again in overnight trading. Direxion Daily Semiconductors Bull 3x Shares and SanDisk fell 4%; SK hynix and Western Digital fell 3%; Micron Technology, Seagate Technology, AMD and Intel fell 2%.

Optical communication stocks also fell in overnight trading. AXT Inc fell 5%; Applied Optoelectronics fell 4%; Coherent fell 3%; Credo Technology, Lumentum, Corning, and Ciena fell 2%.

IONQ Inc. fell 2.61%. It partnered with CMC Microsystems to expand cloud quantum access in Canada.

Bloom Energy Corp (BE) slipped 2.6%. Director Jeffrey R. Immelt sold $7.17 million of shares, a Form 4 showed.

SpaceX fell 1.08%. It completed a $60 billion purchase of AI firm Cursor to bolster xAI.

Electronic equipment maker Keysight Technologies forecast fourth-quarter profit and revenue above expectations, as a rapid buildout of AI ‌data centers boosts demand for its software and tools, sending its shares up 3%.

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