Sector Update: Tech Stocks Rise Premarket Friday

MT Newswires Live11-29 22:08

Technology stocks rose in Friday's premarket hours as the Technology Select Sector SPDR Fund (XLK) was up 0.1% and the SPDR S&P Semiconductor ETF (XSD) was almost 1% higher.

StoneCo (STNE) received multiple nonbinding acquisition proposals for Linx but the offers were below the price it paid for the software platform in 2020, Reuters reported Wednesday, citing three people familiar with the negotiations. StoneCo shares were down more than 6% premarket.

VNET Group (VNET) shares rose past 3% after the company said it struck an agreement with Dajia Investment Holding to form a pre-REITs fund to invest in large data centers in mainland China.

Bilibili (BILI) shares were up over 2% after the company said it has completed its repurchase right offering relating to its 0.50% convertible senior notes due 2026.

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