Sector Update: Tech Stocks Gain Friday Afternoon

MT Newswires Live10-12

Tech stocks were rising Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) up 0.1% and the SPDR S&P Semiconductor ETF (XSD) climbing 2.4%.

The Philadelphia Semiconductor index rose 1%.

In corporate news, Verb Technology (VERB) shares surged nearly 70% after its top executive said the stock should be trading at more than $22 per share and that the company is "extremely well capitalized" and virtually debt-free.

Aehr Test Systems (AEHR) shares jumped 18% after the company reported overnight a smaller-than-expected decline in fiscal Q1 earnings and revenue based on estimates from two analysts in a Capital IQ survey.

Paltalk (PALT) said Friday that a judge filed an order for final judgment in its favor in its patent infringement lawsuit against Cisco Systems (CSCO). Paltalk shares were falling 2.8% and Cisco was up 1.2%.

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