Technology stocks continued to add to their early gains, with the SPDR Technology Select Sector ETF Tuesday rising 0.8% while the Philadelphia Semiconductor Index was advancing 0.3% this afternoon.
In company news, CrowdStrike Holdings (CRWD) rose 7.8% following a Stifel upgrade Tuesday of the cybersecurity firm to buy from hold and a $60 increase to its price target to $300 each.
Splunk (SPLK) climbed nearly 11% after the data analytics company said it would sell $1 billion of 0.75% convertible senior notes due 2026 to technology investment firm Silver Lake to fund common share purchases and new growth initiatives. The notes have an initial conversion price of $160 per share, or 30% over Splunk's volume-weighted average closing price over the past 10 days.
On the losing side, Daqo New Energy (DQ) declined 4.2% after saying it has completed the registration process for an initial public offering by its Xinjiang Daqo New Energy operating subsidiary on the Shanghai Stock Exchange's Sci-Tech innovation board and that it was expecting to issue stock within the next four weeks.
MicroVision (MVIS) fell almost 11% after the lidar sensors developer announced plans for an at-the-market offering of up to $140 million of its common shares.