Sector Update: Tech Stocks Higher Pre-Bell Thursday
Technology stocks were higher pre-bell Thursday, with the State Street Technology Select Sector SPDR ETF (XLK) advancing by 1.5% and the State Street SPDR S&P Semiconductor ETF (XSD) 2.4% higher.Shares of Oracle (ORCL) fell over 9% in premarket activity as the cloud computing company announced plans to raise an additional $20 billion in equity and debt for its capital expenditures in fiscal 2027.Coupang (CPNG) shares were up more than 7% before market open. Bloomberg reported that Coupang's South Korean entity was hit with a record 624.7 billion won ($409 million) fine for a major data breach and associated privacy violations that impacted nearly 34 million accounts.SAP (SAP) stock retreated more than 2% pre-bell after Goldman Sachs cut its price target on the company.
