Sector Update: Tech Stocks Lower Friday Afternoon

Last Updated: Friday, December 9, 2022 4:11 PM | MT Newswires

Technology stocks turned lower, with the SPDR Technology Select Sector Fund (XLK) falling 0.6% and the Philadelphia Semiconductor Index slipping 0.9% this afternoon.

In company news, ClearOne (CLRO) sped more than 67% higher after Friday saying it has reached a settlement in its legal fight with audio equipment manufacturer Shure. Specific terms of the agreement were not disclosed but neither company had to acknowledge any wrongdoing and both said they will be free to sell their products without restrictions.

DocuSign (DOCU) rose 12% after the digital signature company exceeded Wall Street forecasts with its fiscal Q3 results and also increased its fiscal 2023 sales outlook despite the prospect of "softening trends."

Mobileye (MBLY) gained 7% after Needham Friday raised its price target for the autonomous driving technologies company by $3 to $43 and reiterated its buy rating for the stock.

Broadcom (AVGO) was 2.6% higher after late Thursday reporting outsized increases for its earnings and revenue during Q4 and the semiconductor and infrastructure software equipment company forecast revenue for the current quarter exceeding analyst estimates as well as boosting its quarterly dividend.

Share this article:

Related Companies

You May Also Like

Related Articles

Is Omniq Corp (OMQS) Stock a Smart Investment Tuesday?

Cemtrex Inc (CETX) Stock Gains 28.36% This Week: Is It a Good Pick?

Should You Buy BK Technologies Corp (BKTI) Stock on Tuesday?

Is Bel Fuse Inc Class B (BELFB) Stock at the Top of the Electronic Components Industry?

Should You Sell Usio Inc (USIO) in Information Technology Services Industry?

Does Embark Technology Inc (EMBK) Have What it Takes to be in Your Portfolio Tuesday?

Related Companies