Tech stocks were lower Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 2.5% and the State Street SPDR S&P Semiconductor ETF (XSD) dropping nearly 6%.
The Philadelphia Semiconductor index fell 5.4%.
In corporate news, Baidu (BIDU) reported lower-than-expected Q2 results on Tuesday amid weakness in its online marketing business, even though it recorded double-digit growth in its core AI-powered operations. Its shares dropped nearly 13%.
Healthcare stocks were lower late Monday afternoon, with the NYSE Healthcare Index down 0.3% and the State Street Health Care Select Sector SPDR ETF (XLV) shedding 0.2%.The iShares Biotechnology ETF (IBB) added 1.8%.In corporate news, OmniAb (OABI) unveiled a partnership with Eli Lilly (LLY) on a new ion-channel drug discovery program, while raising its fiscal 2026 cash and cash equivalents guidance. OmniAb shares jumped nearly 13%, and Lilly was up 0.4%.Freenome (FRNM) shares surged past 12% after Jefferies initiated coverage of the stock with a buy rating and a price target of $17.Argenx (ARGX) shares climbed 16% after the company said a phase 3 study evaluating its experimental drug Vyvgart Hytrulo in adults with autoimmune myositis met its main goal.EyePoint (EYPT) shares tumbled 67% after it said its phase 3 Lugano trial testing Duravyu in people with wet age-related macular degeneration failed to achieve its primary endpoint.
Consumer stocks were lower late Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) dropping 1.7% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) falling 1.2%.In corporate news, JetBlue Airways' (JBLU) balance sheet woes could worsen as the Strait of Hormuz appears unlikely to reopen anytime soon, potentially prolonging jet fuel volatility, Seaport Research Partners said. Seaport downgraded its rating on the JetBlue stock to neutral from buy and withdrew its price target, just months after upgrading the stock on the assumption that the Strait of Hormuz would reopen. JetBlue shares were down past 6%.PENN Entertainment (PENN) said Monday it plans to invest nearly $195 million to relocate its Boomtown Casino & Hotel New Orleans riverboat casino to a new landside property on adjacent land and rebrand it as Hollywood Casino New Orleans, subject to regulatory approval. PENN Entertainment shares were shedding 1.1%.Paramount Skydance (PSKY) on Monday asked a federal judge in Oakland, California, to require the 12 states suing to block the company's acquisition of Warner Bros. Discovery (WBD) to post a $1.88 billion bond by Sept. 30. Paramount shares were up 1.2%.H World (HTHT) shares jumped past 11% after it reported better-than-expected Q2 results.
Tech stocks were higher late Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) increasing 0.2% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 1.3%.The Philadelphia Semiconductor index climbed up 1.8%.In corporate news, over a dozen family offices held a total of at least $3.8 billion in SpaceX (SPCX) through the first half of the year, Bloomberg reported Monday, citing data it compiled from 13F regulatory filings. SpaceX shares were up 4.2%.Meta Platforms' (META) and BlackRock's (BLK) Sopaipilla data center campus in El Paso, Texas, is exposed to billions of dollars in potential losses due to partial insurance coverage, the Financial times reported Monday, citing sources familiar with the insurance agreement. Meta shares were falling 3.6%.Alphabet's (GOOGL) Google agreed to purchase a broad set of Spirit Airlines' enterprise data and internally developed software assets for $10 million under a bill of sale filed Friday in the US Bankruptcy Court for the Southern District of New York. Alphabet shares were down 0.6%.Intel (INTC) and Goldman Sachs (GS) are among the investors in AI video generation platform Higgsfield's recent $400 million funding round, pushing its valuation to $5.40 billion, the Financial Times reported. Intel shares climbed 1.5%.