Sector Update: Tech Stocks Mixed Monday Afternoon

MT Newswires Live02:45

Tech stocks were mixed Monday afternoon with the Technology Select Sector SPDR Fund (XLK) easing 0.1% and the SPDR S&P Semiconductor ETF (XSD) rising 3%.

The Philadelphia Semiconductor index added 0.8%.

In corporate news, most quantum computing stocks gained after Amazon.com's (AMZN) Amazon Web Services announced the launch of the Quantum Embark Program, which is designed to help businesses prepare for quantum computing adoption. Shares of Quantum (QMCO) more than doubled, Rigetti Computing (RGTI) soared 53% and Quantum Computing (QUBT) jumped 12%. Meanwhile, D-Wave Quantum (QBTS) fell 2.9% by midday.

Brightcove (BCOV) shares surged 35% after the company said Monday it signed a definitive agreement to be acquired by Bending Spoons for $233 million in cash, or $4.45 per share.

POET Technologies (POET) shares rose 5.5%. The company said Monday it plans to expand its optical engine production capacity in Malaysia and has signed a deal to assume control of its Super Photonics Xiamen

joint venture with Quanzhou Sanan Optical Communication Technology.

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