Sector Update: Tech Stocks Decline Pre-Bell Wednesday

MT Newswires Live10-14 21:17

Technology stocks were declining pre-bell Wednesday, with the State Street Technology Select Sector SPDR Fund (XLK) down 1% and the State Street SPDR S&P Semiconductor ETF (XSD) 2.1% lower.

SK Hynix (SKHY) parent company SK Group's Chairman Chey Tae-won has agreed to the sale of a 1.34% stake in the holding company to an investment fund linked to Dell Technologies (DELL) founder Michael Dell for 544 billion won ($407.2 million), Reuters reported, citing a regulatory filing. Shares of SK Hynix were down more than 4% and Dell Technologies stock fell past 3% premarket.

ASML (ASML) reported higher fiscal Q3 net income and net sales. ASML also said it expects its planned supply for 2027 and 2028 to not "fully meet the demand" of its customers amid strong order book momentum. ASML stock was down more than 1% pre-bell.

SentinelOne (S) shares were down more than 1% after the company priced $1.25 billion of 0% convertible senior notes due 2031 in a private placement.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment