Tech stocks were advancing late Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 1.2% and the SPDR S&P Semiconductor ETF (XSD) adding 0.1%.
The Philadelphia Semiconductor index rose 1.3%.
In corporate news, Viavi Solutions (VIAV) shares fell 3.9% after the company reported fiscal Q2 non-GAAP diluted earnings late Thursday of $0.11, down from $0.14 a year earlier.
Meta (META) shares jumped more than 20% after the company’s Q4 EPS and revenue beat analysts’ forecasts. Meta also started a quarterly dividend of $0.50 a share, payable on March 26 to shareholders of record Feb. 22.
Intel (INTC) is planning to delay the construction of its $20 billion chip-manufacturing project in Ohio over market challenges and a slow rollout of US government support for the industry, the Wall Street Journal reported Thursday. Intel shares fell 1.6%.
Zuora (ZUO) shares fell 4.9% after the company said it is cutting 8% of its workforce.
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