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Sector Update: Tech Stocks Fall Premarket Friday

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Technology stocks were falling premarket Friday, with the State Street Technology Select Sector SPDR Fund (XLK) down 1.8% and the State Street SPDR S&P Semiconductor ETF (XSD) 2.5% lower.

Samsara (IOT) shares were down more than 3% even after the company posted higher fiscal Q1 non-GAAP earnings and revenue.

Guidewire Software (GWRE) reported higher fiscal Q3 adjusted earnings and revenue, and raised its fiscal 2026 revenue outlook. Guidewire Software stock was down more than 11 pre-bell.

United Microelectronics (UMC) reported sales of 22.94 billion New Taiwan dollars ($727.9 million) in May, up 17.8% from a year earlier. Shares of United Microelectronics were 0.4% lower premarket.

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Sector Update: Energy Stocks Mixed Late Afternoon

Energy stocks were mixed late Thursday afternoon, with the NYSE Energy Sector Index increasing 0.2% and the State Street Energy Select Sector SPDR ETF (XLE) 0.1% lower.The Philadelphia Oil Service Sector Index climbed up 1.7%, and the Dow Jones US Utilities Index rose 0.5%.Front-month West Texas Intermediate crude oil fell 3% to $93.11 a barrel, and the global benchmark Brent crude contract dropped 2.7% to $95.18 a barrel. Henry Hub natural gas futures rose 4.7% to $3.37 per 1 million BTU.In sector news, US Treasury Secretary Scott Bessent said waivers allowing countries to buy Russian oil could be granted on a country-by-country basis rather than across the board, Bloomberg reported, citing the official's testimony before the House Ways and Means Committee.In corporate news, Venture Global (VG) shares jumped 5.8% after JPMorgan upgraded the stock to overweight from neutral and increased its price target to $17 from $16.Expro (XPRO) shares surged past 8% after the company said it has filed its definitive proxy statement with the Securities and Exchange Commission regarding its proposed move to redomicile in the Cayman Islands from the Netherlands.Solaris Energy Infrastructure (SEI) is expected to continue to expand capacity despite facing a tight supply chain in the near term, Morgan Stanley said in a note. Morgan Stanley kept its overweight rating and increased its price target to $90 from $81. Solaris shares rose 3%.Murphy Oil (MUR) shares rose 2.3% after KeyBanc upgraded the stock to overweight from sector weight.

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Sectors

Sector Update: Financial Stocks Gain Late Afternoon

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Sectors

Sector Update: Tech Stocks Fall Late Afternoon

Tech stocks were lower late Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1.1% and the State Street SPDR S&P Semiconductor ETF (XSD) easing 0.2%. The Philadelphia Semiconductor index fell 1.7%.In sector news, Tesla (TSLA) Chief Executive Elon Musk is set to become the world's first trillionaire following the IPO of SpaceX (SPCX), CNBC reported. Musk's stake in the rocket and satellite communications firm is worth $866.5 billion on paper, CNBC reported, citing the company's prospectus.In corporate news, CrowdStrike (CRWD) reported strong fiscal Q1 results amid accelerating demand for AI, but questions around the company's performance sustainability remain, BofA Securities said. CrowdStrike shares were down 4%.Broadcom (AVGO) shares fell past 11% after it reported fiscal Q2 results late Wednesday. The company's fiscal Q3 AI revenue outlook likely fell short of investor expectations, while Q2 results were slightly ahead of consensus, RBC said in a note.Alphabet (GOOGL) said Thursday Google and Intersect plan to build the Meitner Energy Center, which includes a new data center co-located with more than a gigawatt of wind, solar, and battery storage systems in Gray and Roberts Counties, Texas. Alphabet shares rose 3.7%.Meta Platforms' (META) Instagram is rolling out Instagram Plus globally, a new optional subscription tier offering exclusive features for users who want more control and customization. Separately, Meta is considering charging as much as $200 a month for a premium tier of its planned AI agent product, currently known as Hatch, The Information reported. Meta shares increased 0.2%.

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