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Sector Update: Tech Stocks Mixed Late Afternoon

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Tech stocks were mixed late Thursday afternoon with the State Street Technology Select Sector SPDR ETF (XLK) easing 0.2% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 2.8%.

The Philadelphia Semiconductor Index rose 0.7%.

Nscale is informing prospective investors that it has $51 billion in contracted revenue ahead of a US initial public offering that might occur as soon as September, Bloomberg reported.

Apple (AAPL) sued OpenAI, which is backed by Microsoft (MSFT), over trade secret theft, though the AI company asked a federal judge to dismiss the case as meritless, Bloomberg reported. Apple shares rose 0.5%, and Microsoft added 2.3%.

Space Exploration Technologies (SPCX) will build a vertically integrated semiconductor fabrication facility in Grimes County, Texas, with phase one of the Terafab project including a capital investment of more than $16.8 billion, Governor Greg Abbott said in a statement. SpaceX shares rose 4.6%.

AppLovin (APP) shares fell 20% after Q2 revenue fell short of market estimates.

Palo Alto Networks' (PANW) products sold in China are undergoing a cybersecurity review by the country's regulators, Bloomberg reported. Palo Alto shares fell 0.9%.

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Sector Update: Energy Stocks Fall Late Afternoon

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$BP$CEG$GTE$NRP
Sectors

Sector Update: Financial Stocks Advance Late Afternoon

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Sectors

Sector Update: Healthcare Stocks Rise Late Afternoon

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$AZN$BMY$CRL$CVS$LLY$NVO