FINWIRES · TerminalLIVE
FINWIRES

Sector Update: Tech Stocks Mixed Thursday Afternoon

By

Tech stocks were mixed Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.1% and the State Street SPDR S&P Semiconductor ETF (XSD) shedding 0.6%.

The Philadelphia Semiconductor index increased 0.1%.

In corporate news, Cisco (CSCO) shares jumped 12% after it reported a year-over-year jump in fiscal Q3 earnings and revenue, topping market expectations, and raised its fiscal 2026 guidance. The firm also announced restructuring plans that included lay-offs of nearly 4,000 employees.

Microsoft-backed (MSFT) OpenAI is preparing possible legal action against Apple (AAPL) as the partnership between the two companies has become strained, Bloomberg reported. Apple shares were down 0.3%, and Microsoft was rising 0.8%.

Chinese President Xi Jinping told the chief executives of Apple, Tesla (TSLA), Nvidia (NVDA) and other large companies that China will "open wider" to doing business, CNBC reported Thursday, citing a report from state-backed newspaper Xinhua. Tesla shares were fractionally higher, and Nvidia gained 3.7%.

Related Articles

Sectors

Sector Update: Consumer

Consumer stocks were higher late Thursday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) up 0.1%.In corporate news, DraftKings (DKNG) faces a positive catalyst path from the FIFA World Cup driving incremental wagers during a low period over the next few months, Morgan Stanley said in a note. DraftKings shares rose 1%.

$DKNG
Sectors

Sector Update: Healthcare

Healthcare stocks edged down late Thursday afternoon, with the NYSE Healthcare Index easing 0.1% and the State Street Healthcare Select Sector SPDR ETF (XLV) fractionally lower.The iShares Biotechnology ETF (IBB) decreased 0.5%.In corporate news, Prestige Consumer Healthcare's (PBH) officials said Thursday that weak eye care sales and a difficult consumer backdrop drove disappointing fiscal Q4 results at the consumer healthcare products company. Its shares were down past 10%.

$PBH
Sectors

Sector Update: Tech

Tech stocks were mixed late Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.6% and the State Street SPDR S&P Semiconductor ETF (XSD) fractionally lower.The Philadelphia Semiconductor index increased 0.8%.In corporate news, Cerebras Systems (CBRS) stock was up more than 76% in Thursday trading following its Nasdaq debut.

$CBRS