Technology stocks were higher in midday trading, with the Technology Select Sector SPDR Fund (XLK) rising 0.5% and the Philadelphia Semiconductor Index (SOX) advancing 1.5%.
In company news, Sonos (SONO) was up almost 17% after it reported late Wednesday better-than-expected fiscal Q1 adjusted earnings of $0.79 per share, down from $1.03 a year ago. Analysts polled by Capital IQ expected $0.53 per share.
AppLovin (APP) was up almost 32% after Goldman Sachs hiked its price target to $23 from $21 and kept the buy rating.
Affirm Holdings (AFRM) was down over 18% after it reported a fiscal Q2 loss of $1.10 per diluted share, wider than a per-share loss of $0.57 a year earlier. Analysts polled by Capital IQ expected a per-share loss of $0.95.
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