Technology stocks have turned lower again this afternoon, with the SPDR Technology Select Sector ETF (XLK) Tuesday falling 0.3%, reversing a midday gain, while the Philadelphia Semiconductor Index was easing 0.2%.
In company news, Communications Systems (JCS) climbed over 34% after the networking equipment company said it will pay a special dividend of $3.50 per share on Oct. 15, funding the $34 million outlay with proceeds from the August 2 sale of its Transition Networks and Net2Edge electronics and software segment to Lantronix (LTRX).
Intuit (INTU) rose 1.6% after Monday night saying it was buying marketing platform Mailchimp for about $12 billion in cash and stock.
Among decliners, Oracle (ORCL) slid 2.7% after the business software firm reported a 3.8% year-over-year increase in fiscal revenue to $9.73 billion although that still lagged the Capital IQ consensus expecting $9.77 billion in revenue for the three months ended August 31.
Jamf Holding Corp (JAMF) fell 6.8% after the software firm late Monday announced plans for a $325 million private placement of convertible senior notes due 2026.