Sector Update: Tech Stocks Advance Premarket Wednesday

MT Newswires Live12-04

Technology shares were advancing premarket Wednesday as the Technology Select Sector SPDR Fund (XLK) was 1.4% higher and the SPDR S&P Semiconductor ETF (XSD) was up 1.6% recently.

Himax Technologies (HIMX) shares were up over 3% after the company said its board approved a buyback program to repurchase up to $20 million in American depositary shares.

NXP Semiconductors (NXPI) and Vanguard International Semiconductor's joint venture, VisionPower Semiconductor Manufacturing, on Wednesday broke ground on its 300-millimeter wafer manufacturing facility in Tampines, Singapore. NXP Semiconductors shares were up over 1% pre-bell.

Gogo (GOGO) shares advanced by over 1% after the company said it has completed its acquisition of Satcom Direct for $375 million in cash and five million shares of Gogo stock.

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