Sector Update: Tech Stocks Mixed Late Afternoon

MT Newswires Live11-26

Tech stocks were mixed late Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) easing 0.2% and the SPDR S&P Semiconductor ETF (XSD) rising 3.4%.

The Philadelphia Semiconductor index added 0.7%.

In corporate news, MicroStrategy (MSTR) shares tumbled past 4%. The company said Monday that it bought 55,500 bitcoins for $5.4 billion in cash, at an average price of $97,862 per bitcoin between Nov. 18 and Nov. 24.

SkyWater Technology (SKYT) shares popped 3.2%. The company said it has negotiated revisions extending the maturity of its revolving loan facility with Siena Lending and GRC SPV Investments through the end of 2028 and also increasing the chipmaker's borrowing capacity by $30 million to a new maximum of $130 million.

Snowflake (SNOW) shares gained 2.7% after Wedbush upgraded the company's stock to outperform from neutral and raised its price target to $190 from $160.

Brightcove (BCOV) shares surged 35.3% after the company said Monday it has agreed to be bought by Bending Spoons for $233 million in cash, or $4.45 per share.

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