FINWIRES · TerminalLIVE
FINWIRES

Sector Update: Tech Stocks Mixed Premarket Thursday

By

Technology stocks were mixed premarket Thursday, with the State Street Technology Select Sector SPDR Fund (XLK) up 0.2% and the State Street SPDR S&P Semiconductor ETF (XSD) 0.4% lower.

Cisco Systems (CSCO) stock was up more than 15% after the company posted higher fiscal Q3 earnings and revenue that also topped market expectations, and raised its fiscal 2026 guidance.

Intel (INTC) has signed a multiyear partnership with McLaren Racing to become the official compute partner across its Formula 1, IndyCar and sim racing teams, the chipmaker said. Intel shares were down more than 4% pre-bell.

United Microelectronics (UMC) shares were up more than 8% after the company launched its 14nm FinFET technology platform for display driver ICs.

Related Articles

Sectors

Trump Says Xi Offered Help on Iran, Said China Would Not Send Weapons, Bloomberg Reports

Sectors

US Natural Gas Stocks Posts Smaller Gain Than Expected in Week Ended May 8

US natural gas stocks rose by 85 billion cubic feet in the week ended May 8, smaller than the 87 billion gain expected in a survey compiled by Bloomberg as of 7:35 am ET and following an increase of 63 billion cubic feet in the previous week.Stocks at 2.290 trillion cubic feet are 2.3% higher than in the comparable week a year ago and 6.5% above their 5-year average.

Sectors

Natural Gas Moves Lower Ahead of Storage Data on Cooling Long-Term Forecasts

Natural gas prices eased Thursday ahead of fresh storage data on cooler long-term forecasts.Gas for June delivery was last seen down $0.03 to US$2.83 per million British thermal units.The drop comes as long-term forecasts from the National Weather Service expect most states between the Rocky Mountains and Mississippi River to see seasonal or cooler temperatures over the its six to 10-day outlook, cutting into cooling demand.The Energy Information Administration will release its weekly survey of inventories of the fuel, with another large injection into storage expected."We are projecting a +86 (billion cubic foot rise) but should we see a number over 90 Bcf then the support level should fail and we could drop back to near $2.75. A storage number in the low 80's could give the bulls a reason to push back towards $3 but without some help from the weather maps," Gary Cunningham, Director of Market Research at Tradition Energy, noted.

$NGM6$UNG