Sector Update: Tech Stocks Yielding Markets Leadership in Late Trade

Last Updated: Thursday, January 20, 2022 3:25 PM | MT Newswires

Technology stocks were ending with moderate gains, with the SPDR Technology Select Sector ETF (XLK) Thursday rising 0.5% although the Philadelphia Semiconductor Index (^SOX) slipped 0.3% this afternoon, giving back a midday advance.

In company news, DatChat (DATS) raced almost 35% higher after the networking software firm Thursday said it has signed a nonbinding letter of intent to acquire information technology company Avila Security for $1 million in cash and $2.5 million or more in DatChat restricted stock. Pending completion of a definitive purchase agreement and other conditions, the deal adds four US patents and other intellectual property for DatChat, including tools to manage blockchain-based digital rights and encrypted video and audio streaming.

The Glimpse Group (VRAR) advanced 5.8% on Thursday after the virtual and augmented reality software firm said it has developed Glimpse Medal NFT, a limited edition, 3D non-fungible token that can be used across all augmented and virtual reality platforms.

BigCommerce (BIGC) climbed 2.5% after the small business software-as-a-service firm said it joined forces with privately-held Contentstack and Like Digital to produce a global digital platform with e-commerce capabilities for Italian lingerie company La Perla's beauty products division, with BigCommerce also joining Contentstack Catalysts' partner program as part of the project. Financial terms and other details of the partnership were not disclosed.

Integral Ad Science (IAS) rose 1% after it said it promoted Robert Janecek, previously its senior vice president of enterprise systems, to chief information officer at the digital advertising verification company.

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