Sector Update: Tech Stocks Mixed Friday Afternoon

MT Newswires Live11-23 02:51

Tech stocks were mixed in Friday afternoon trading with the Technology Select Sector SPDR Fund (XLK) down 0.1% and the SPDR S&P Semiconductor ETF (XSD) rising 1.4%.

The Philadelphia Semiconductor index shed 0.4%.

In corporate news, Intuit (INTU) shares slumped 5.2%, a day after fiscal Q2 guidance trailed market expectations.

Reddit (RDDT) shareholder Advance Magazine Publishers is looking to establish a credit facility using its Reddit stake, offering 7.8 million Reddit shares for $145.38 to $148.54 apiece or up to $1.2 billion, Bloomberg reported. Reddit shares tumbled 7.8%.

Amazon.com (AMZN) will invest an additional $4 billion in Anthropic as part of their expanded partnership, bringing the e-commerce giant's committed investment in the artificial intelligence startup to $8 billion. Amazon shares shed 0.4%.

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