Tech stocks declined late Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) decreasing 1.4% and the Philadelphia Semiconductor Index falling 2.7%.
In corporate news, Smart Global Holdings (SGH) shares dropped nearly 44% as Stifel cut its price target on the company after lower-than-expected fiscal Q4 results.
Comtech Telecommunications (CMTL) will sell its power systems technology product line to Stellant Systems for up to $40 million in cash. Comtech shares rose almost 24%.
Sigma Additive Solutions (SASI) shares more than doubled after the company agreed to acquire travel technology company NextTrip.
EHang (EH) shares jumped 19% after the company said the Civil Aviation Administration of China granted a type certificate for the company’s passenger-carrying unmanned aerial vehicle system.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Image and article originally from www.nasdaq.com. Read the original article here.