Sector Update: Tech Stocks Mixed Friday Afternoon

MT Newswires Live2024-11-09

Tech stocks were mixed Friday afternoon with the Technology Select Sector SPDR Fund (XLK) decreasing 0.2% and the SPDR S&P Semiconductor ETF (XSD) gaining 0.2%.

The Philadelphia Semiconductor index shed 0.9%.

In corporate news, Tesla (TSLA) shares surged 9.2%, pushing the company's market cap over $1 trillion for the first time in more than two years. Separately, Tesla said it's providing an option to lease its Cybertruck, starting at $999 a month.

Axon Enterprise (AXON) reported a surge in Q3 adjusted earnings and sales and raised 2024 revenue guidance. The shares surged 28%.

Akamai Technologies (AKAM) shares tumbled 14% after Q4 non-GAAP earnings and sales guidance trailed estimates.

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