Tech stocks were higher Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 1.7% and the Philadelphia Semiconductor index advancing 1.9%.
In company news, Tesla (TSLA) has cut prices on its Model 3 and Model Y cars in the US, with the Model 3 sedan’s price dropping to $38,990 from $40,240, according to the company’s website. Separately, Tesla could get the final permits to build an electric vehicle factory in the Mexican state of Nuevo Leon within weeks, Reuters reported. Tesla shares were steady.
Microsoft (MSFT) is hoping to close the acquisition of Activision Blizzard (ATVI) on Oct. 13, The Verge reported Friday, citing a source familiar with Microsoft’s plans. Microsoft shares rose past 2% and Activision was up 0.5%.
ShiftPixy (PIXY) slumped past 17% after it struck a deal to sell about 2.3 million shares and a concurrent private placement of warrants to buy the same amount of shares to a single US institutional investor, with estimated gross proceeds of $2.5 million.
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