Sector Update: Tech Stocks Mixed Wednesday Afternoon

MT Newswires Live2024-11-14

Tech stocks were mixed in Wednesday afternoon trading, with the Technology Select Sector SPDR Fund (XLK) up 0.2% and the SPDR S&P Semiconductor ETF (XSD) falling 1.1%.

The Philadelphia Semiconductor index dropped 1.5%.

In corporate news, Super Micro Computer (SMCI) shares slumped 5% after the company flagged a delay in filing its quarterly report for the period ending Sept. 30 because it needs more time to complete financial statements and disclosures.

Spotify (SPOT) shares jumped 11%. The company gained more premium subscribers than expected in Q3 even as financial results for the period fell short of market estimates.

Rocket Lab USA (RKLB) shares soared 35% after Q3 financial results topping Wall Street expectations and revenue guidance for the current quarter exceeding consensus estimates.

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