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Sector Update: Tech Stocks Rise Premarket Friday

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Technology stocks were rising premarket Friday, with the State Street Technology Select Sector SPDR Fund (XLK) up 1.8% and the State Street SPDR S&P Semiconductor ETF (XSD) 1.9% higher.

Advanced Micro Devices (AMD) shares were up more than 2% after the company said it agreed to purchase Taalas to expand its computing capabilities with specialized artificial intelligence processors.

Cloudflare (NET) shares were up more than 14% after the company reported stronger-than-expected Q2 results and raised its 2026 guidance.

Take-Two Interactive Software (TTWO) stock was up nearly 2% after the company posted higher fiscal Q1 revenue.

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Sector Update: Tech Stocks Mixed Late Afternoon

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 Gain Late Afternoon

Energy stocks were higher late Thursday afternoon, with the NYSE Energy Sector Index rising 1.6% and the State Street Energy Select Sector SPDR ETF (XLE) up 1.5%.The Philadelphia Oil Service Sector Index was climbing 3.8%, and the Dow Jones US Utilities Index was shedding 0.6%.In geopolitical news, Iran and Oman are reportedly close to finalizing a framework regarding the Strait of Hormuz. But US and Israeli ships would be blocked from moving through the strategic waterway, Iranian state news outlet Fars reported Thursday, according to CNBC.Front-month West Texas Intermediate crude oil rose 3.1% to $77.54 a barrel, and the global benchmark Brent crude contract added 4.1% to $82.68 a barrel. Henry Hub natural gas futures fell 2% to $2.64 per 1 million BTU.In sector news, US natural gas stocks rose by 33 billion cubic feet in the week ended July 31, above the 30 billion increase expected in a survey compiled by Bloomberg and following an increase of 28 billion cubic feet in the previous week.In corporate news, BP (BP) has agreed to acquire Woodside Energy's (WDS) 70% stake in the Calypso gas project in Trinidad and Tobago. Following the close of the deal, BP will own 100% of the early-stage, deepwater natural gas project and will assume operatorship, it said. BP shares rose 2.7%, and Woodside added 3.2%.SLB (SLB) and Equinor (EQNR) signed a multiyear agreement for reservoir stimulation services across the Norwegian Continental Shelf, including a major upgrade of the MV Island Captain well stimulation vessel, the companies said Thursday. SLB shares rose 3.6%, and Equinor added 3.5%.ConocoPhillips (COP) shares rose 1.6% after it reported higher Q2 adjusted earnings and revenue. The company also said Chief Financial Officer Andy O'Brien will succeed Ryan Lance as president and chief executive officer, effective Sept. 1.Suncor Energy (SU) said Thursday its Chief Executive Officer Rich Kruger will move to the executive vice chair role in April 2027. Executive Vice President Upstream Peter Zebedee will succeed Kruger following a board-led succession process, the company said. The company also said Zebedee will become CFO and president on Sept. 14, overseeing all non-operating functions before assuming the CEO role in 2027. Suncor shares were down 2.3%.

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Sector Update: Healthcare Stocks Mixed Late Afternoon

Healthcare stocks were mixed late Thursday afternoon, with the NYSE Healthcare Index fractionally higher and the State Street Health Care Select Sector SPDR ETF (XLV) down 0.1%.The iShares Biotechnology ETF (IBB) was up 0.4%.In corporate news, Emergent BioSolutions (EBS) shares dropped 30% after it cut its full-year guidance and announced an organizational restructuring plan.Becton, Dickinson (BDX) raised its full-year earnings guidance as the medical device maker's Q3 results exceeded Wall Street's estimates amid revenue gains across all divisions. Its shares gained 3.5%.Enovis (ENOV) shares fell 13% after the company reported its results for fiscal Q2.Braveheart Bio (BRVE) shares surged 70% in its Nasdaq debut Thursday, after the company announced an upsized IPO of 21.25 million common shares late Wednesday.

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