Sector Update: Tech Stocks, Led by Chipmakers, Spark Thursday Markets Rally

Last Updated: Thursday, October 14, 2021 3:41 PM | MT Newswires

Technology stocks continue to lead the broader Thursday markets higher, with the SPDR Technology Select Sector ETF (XLK) rising 2.2% while the Philadelphia Semiconductor Index was advancing 2.9% this afternoon.

In company news, Helbiz (HLBZ) still was 8.9% higher late in Thursday trading, easing from a more than 22% morning advance that followed the micromobility and related technology company saying it will broadcast National Football League games for the rest of the current season to viewers in Italy using its Helbiz Live platform in Italy. Financial terms were not disclosed.

IronSource (IS) rose 4.2% after the Israeli online applications development platform said it would acquire mobile advertising and app monetization company Tapjoy for about $400 million in cash. IronSource said Tapjoy is expected to generate about $81 million in net revenue this year.

Taiwan Semiconductor (TSM) added 2.5% after reporting improved Q3 net income and revenue exceeding analyst forecasts and disclosing plans to build a new factory in Japan that's expected to begin production by the end of 2024. CEO CC Wei said capacity will likely remain "tight" over the rest of 2021 and throughout 2022, according to reports.

Among decliners, E2open Parent Holdings (ETWO) declined nearly 1%, giving back a morning gain that followed the supply-chain technology firm narrowing its fiscal Q2 net loss by 87% compared with year-ago levels, reporting an $0.11 per share loss for the three months ended Aug. 31, while non-GAAP revenue grew nearly 13% to $92.3 million. Analysts, on average, had been looking for a GAAP net loss of $0.01 per share on $91 million in revenue.

Share this article:

Related Companies

You May Also Like