Tech stocks fell Tuesday afternoon with the Technology Select Sector SPDR Fund (XLK) dropping 1.7% and the SPDR S&P Semiconductor ETF (XSD) tumbling 3%.
The Philadelphia Semiconductor index shed 2%.
In corporate news, Tripadvisor (TRIP) shares surged 15% after the company said a special committee of independent directors was formed to evaluate any proposals for a potential deal or alternatives.
Blackbaud (BLKB) dropped 13% after the company said it expects 2024 non-GAAP EPS of $4.12 to $4.38. Analysts polled by Capital IQ expect $4.57.
Teradata (TDC) plunged 22% as several analysts cut their price targets after the company reported Q4 earnings and Q1 and 2024 guidance late Monday.
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