Sector Update: Tech Stocks Gain Late Afternoon

MT Newswires Live09-10

Tech stocks were higher late Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 1.4% and the SPDR S&P Semiconductor ETF (XSD) climbing 1.5%.

The Philadelphia Semiconductor index added 1.9%.

In corporate news, Apple (AAPL) on Monday announced a new iPhone line up at its Glowtime event. The company also unveiled the Apple Watch Series 10 with a larger display and debuted the AirPods 4. The tech giant's shares were shedding 0.4%.

Palantir Technologies (PLTR) shares jumped past 14% following late Friday's announcement of its inclusion in the S&P 500 index.

Progress Software (PRGS) agreed to buy software-as-a-service document collaboration business ShareFile from Cloud Software for $875 million. Progress shares were falling 2.2%.

Planet Labs (PL) shares popped 7% after the company said its unit Planet Federal was selected for the NASA Commercial SmallSat Data Acquisition Program On-Ramp1 multiple award contract, which has a maximum potential value of $476 million for all contractors selected.

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