Tech stocks eased in late Thursday afternoon trading with the Technology Select Sector SPDR Fund (XLK) down 0.1% and the SPDR S&P Semiconductor ETF (XSD) declining 0.4%.
The Philadelphia Semiconductor index fell 0.7%.
In corporate news, VeriSign's (VRSN) monopoly over website domain registration is responsible for increasing prices of the most coveted domains, the American Economic Liberties Project said. The non-profit organization and a coalition of allies sent two letters to the National Telecommunications and Information Administration and Department of Justice, urging them to end VeriSign's monopoly. VeriSign shares fell 0.5%.
CleanSpark (CLSK) agreed to buy Griid Infrastructure (GRDI) in an all-stock deal with a total enterprise value, including the assumption of debt, of $155 million. CleanSpark shares were little changed, Griid tumbled 49%.
Micron Technology (MU) forecast sales of $7.6 billion, plus or minus $200 million, for Q4. Analysts polled by Capital IQ expect $7.58 billion. "Micron tumbled after an unimpressive current-quarter forecast and dragged down chip stocks, while caution ahead of economic data and a presidential debate also dented sentiment," D.A. Davidson said in a note. Micron shares slumped 7.3%.
Concentrix (CNXC) shares rose 8.4%, a day after the company posted higher fiscal Q2 non-GAAP diluted earnings and revenue.
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