FINWIRES · TerminalLIVE
FINWIRES

Sector Update: Tech Stocks Mixed Late Afternoon

By

Tech stocks were mixed late Friday afternoon with the State Street Technology Select Sector SPDR ETF (XLK) rising 2.3% and the State Street SPDR S&P Semiconductor ETF (XSD) falling 2.7%.

The Philadelphia Semiconductor index gained 0.1%.

In corporate news, Dell Technologies (DELL) shares surged 32% a day after the company reported fiscal Q1 results that topped estimates and issued higher-than-expected guidance for fiscal Q2 and the full year.

SentinelOne (S) shares fell 9%. The cybersecurity company delivered a solid Q1 performance that appears to be sustainable amid strong underlying trends, BofA Securities said, with the sell-off tied to "conservative" guidance that has raised questions around growth durability.

IBM (IBM) shares jumped 14% a day after the company said it plans to invest more than $10 billion over the next five years to support quantum computing development.

NetApp (NTAP) shares soared 25% a day after the company reported fiscal Q4 results that topped estimates.

Related Articles

Sectors

Sector Update: Energy Stocks Mixed Late Afternoon

Energy stocks were mixed late Thursday afternoon, with the NYSE Energy Sector Index fractionally lower and the State Street Energy Select Sector SPDR ETF (XLE) up 0.2%.The Philadelphia Oil Service Sector Index was falling 1.5%, and the Dow Jones US Utilities Index shed 1%.Front-month West Texas Intermediate crude oil rose 0.5% to $89.14 a barrel, and the global benchmark Brent crude contract shed 0.4% to $93.93 a barrel. Henry Hub natural gas futures climbed up 5% to $3.04 per 1 million BTU.In sector news, US crude oil stocks, including those in the Strategic Petroleum Reserve, fell by 12.4 million barrels in the week ended May 22 following a fall of 17.8 million barrels in the previous week. Excluding inventories in the SPR, commercial crude oil stocks declined by 3.3 million barrels after a 7.9-million-barrel decline in the previous week, a larger drop than the 3-million-barrel decrease expected in a Bloomberg survey.In corporate news, BP's (BP) former chairman Albert Manifold, who was ousted earlier in the week, had fallen out with company secretary Ben Mathews before his removal from the role, the Financial Times reported. BP shares were down 0.4%.Ecopetrol (EC) said Thursday its board has postponed the start date of the previously announced unpaid leave of Chief Executive Ricardo Roa Barragan. Ecopetrol shares fell 1.1%.TotalEnergies (TTE) and Stellantis (STLA) have renewed and expanded their partnership in Europe to develop and deliver engine oils and lubricants, the companies said. TotalEnergies shares rose 0.8%.Baker Hughes (BKR) said it has secured multiyear contract extensions with Equinor (EQNR) for drilling, well services and wireline intervention in the North Sea. Baker Hughes shares climbed 2.3%, and Equinor was up 0.1%.

$BKR$BP$EC$EQNR$TTE
Sectors

Sector Update: Financial Stocks Decline Late Afternoon

Financial stocks were lower in late Thursday afternoon trading, with the NYSE Financial Index decreasing 0.6% and the State Street Financial Select Sector SPDR ETF (XLF) down 0.3%.The Philadelphia Housing Index eased 0.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) shed 0.4%.Bitcoin (BTC-USD) was falling 1.3% to $73,401, and the yield for 10-year US Treasuries decreased 2.6 basis points to 4.455%.In economic news, on a month-on-month basis, the personal consumption expenditures, or PCE, price index slowed to 0.4% in April from 0.7% in the previous month, Bureau of Economic Analysis data showed Thursday. The Street expected 0.5%. The core PCE price index, which excludes the more volatile food and energy and is the Fed's preferred inflation gauge, grew by 0.2% versus March's 0.3%, also the consensus for April.US economic growth, as measured by gross domestic product, rose by 1.6% in Q1, revised lower from a 2.0% increase in the advance estimate. No revision was expected in a survey compiled by Bloomberg. GDP rose by 0.5% in Q4.New orders for US durable goods rose by 7.9% in April following a 1.3% increase in March, beating the 4.0% gain forecast in a survey compiled by Bloomberg.In sector news, Grayscale has paused its IPO preparations due to unfavorable market conditions and is unlikely to resume the process before Q4, CoinDesk reported. The crypto asset manager filed confidentially for a US IPO last November, the report said.In corporate news, Robinhood (HOOD) shares jumped past 10% after it said the official Trump Accounts app is now available for download ahead of the tax-advantaged investment accounts' July 4 launch. Eligible US children born from 2025 to 2028 will qualify for a $1,000 initial contribution from the Treasury Department, the company said Thursday.UWM (UWMC) said Thursday it urged Two Harbors Investment (TWO) stockholders to vote against the proposed CrossCountry Mortgage merger following the second adjournment of Two Harbors' special meeting to vote on the transaction. UWM shares rose 1.4%, and Two Harbors was down 0.6%.MetLife (MET) and Ares Management (ARES) are at odds over restructuring of Eagle Football Group's debt, Bloomberg reported. Ares, which has provided more than $400 million in financing to Eagle Football, is trying loan restructuring while MetLife is being told to wait longer to get paid back, the report said. MetLife shares were down 1.5%, and Ares shed 0.3%.Apollo Global Management (APO) and other investment firms, including Angelo Gordon and Oaktree Capital, are facing a lawsuit from a rival creditor group alleging they planned illicit financing deals to take collateral from chemical manufacturer Trinseo, The Wall Street Journal reported. Apollo shares were down 1.8%.

$APO$ARES$HOOD$MET$TWO$UWMC
Sectors

Sector Update: Healthcare Stocks Higher Late Afternoon

Healthcare stocks rose late Thursday afternoon, with the NYSE Healthcare Index rising 1.4% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 1.5%.The iShares Biotechnology ETF (IBB) climbed 1.5%.In corporate news, Eli Lilly's (LLY) weight-loss drugs secured coverage from the three largest US pharmacy benefit managers, the drugmaker said Thursday. Lilly shares gained 4.3%.Agilent Technologies (A) stock jumped 18% after the company posted higher fiscal Q2 adjusted earnings and revenue, and raised its fiscal 2026 adjusted EPS guidance.Illumina (ILMN) shares climbed 5% after it said it launched a whole-genome sequencing research workflow for molecular residual disease detection.AstraZeneca's (AZN) durvalumab, plus Bacillus Calmette-Guerin, received approval by the Food and Drug Administration to treat adults with BCG-naive, high-risk non-muscle invasive bladder cancer, the FDA said Thursday. AstraZeneca shares rose 0.2%.

$A$AZN$ILMN$LLY