Technology stocks turned narrowly lower again Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) slipping 0.3% while the Philadelphia Semiconductor Index was dropping 0.8%.
In company news, Blend Labs (BLND) was falling hard, earlier sinking more than 48% to a record low of about $0.76 a share, after the software firm reported a larger non-GAAP Q4 net loss than analysts were projecting and revenue for the three months ended Dec. 31 also trailed Wall Street forecasts.
ACI Worldwide (ACIW) gained 5% following a Bloomberg report overnight the software firm is discussing a potential buyout with private-equity investors Motive Partners, which has been trying to obtain financing for the deal, according to unnamed sources.
Baidu (BIDU) added 6.1% after the company said it received a permit to deploy 10 of its driverless Apollo Go ride-hailing vehicles in China’s Beijing Yizhuang economic development zone in China.
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.