Sector Update: Tech Stocks Jump Late Afternoon

MT Newswires Live11-07

Tech stocks surged late Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) climbing 2.9% and the SPDR S&P Semiconductor ETF (XSD) adding 4.3%.

The Philadelphia Semiconductor index rose 3.3%.

In corporate news, Qualys (QLYS) shares soared 23%. The company is exploring options that include a possible sale after receiving takeover interest, Bloomberg reported.

Super Micro Computer (SMCI) shares plunged 18% after the company's fiscal Q2 guidance missed analysts' expectations.

Cipher Mining (CIFR) shares surged past 29%. The company said it mined 168 bitcoins in October, up from 155 in September.

Trimble (TRMB) shares jumped 17% after the company reported Q3 results that topped analyst estimates and raised its 2024 guidance.

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