Tech stocks were higher late Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) adding 2.1% and the SPDR S&P Semiconductor ETF (XSD) up 3%.
The Philadelphia Semiconductor Index jumped 4%.
In corporate news, Universal Electronics (UEIC) said Friday the US Court of Appeals for the Federal Circuit upheld a prior ruling by the US International Trade Commission that banned the import and sale of streaming products by Roku (ROKU). Universal Electronics shares were rising 6.7%, while Roku was up 3.1%.
Texas Instruments (TXN) shares jumped past 4% after UBS upgraded the company’s rating to buy from neutral and raised its price target to $195 from $170.
Meta Platforms (META) is bringing its two major artificial intelligence research groups “closer together” as part of its efforts to build general intelligence, Chief Executive Officer Mark Zuckerberg said Thursday. Meta shares rose 1.7%.
Super Micro Computer (SMCI) shares soared 36% after the firm said its fiscal Q2 results will likely exceed its previous guidance.
Cambium Networks (CMBM) shares dropped 12%, a day after it said it expects Q4 revenue of about $40.0 million compared with its previous outlook of $45 million to $50 million.
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.