On June 26, STMicroelectronics fell 3.14% in pre-market trading, trading at $72.5/share, with turnover of $4.62 thousand.
On the news front, the semiconductor sector broadly weakened as profit-taking pressure emerged following the prior session's strong rebound. Micron Technology's upbeat earnings had driven a sector-wide rally on June 25, with STMicroelectronics surging over 5% that day, supported by expectations of the company's second MCU price hike of the year set to take effect on June 28. However, after the sharp single-day advance, short-term capital took profits and the sector experienced a systematic pullback. Peer stocks declined in tandem, with Micron Technology down 3.85%, Marvell Technology down 3.32%, Intel down 3.02%, Advanced Micro Devices down 2.6%, and NVIDIA down 1.02%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
Comments