Tech stocks were higher late Thursday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 1.1% and the Philadelphia Semiconductor index up 1.6%.
In company news, Apple (AAPL) on Thursday won an appeal to a US court for an affirmation of the US patent office’s earlier decision that the company did not infringe on patents belonging to VirnetX (VHC). Apple shares were up 0.8% and VirnetX shares were down over 14%.
Alibaba (BABA) shares were advancing 3.7% after Reuters reported Thursday, citing group Chief Executive Daniel Zhang, that it is considering selling non-core assets and the control of some of its business units once they go public after the recently announced restructuring.
JD.com (JD) stock was up over 8% after the Chinese e-commerce company disclosed plans in a regulatory filing to list two of its subsidiaries on the Hong Kong Stock Exchange through separate initial public offerings of their stock.
Sprinklr (CXM) was rising more than 16% after reporting late Wednesday non-GAAP EPS of $0.06 in Q4, swinging from a $0.05 loss per share a year earlier. Analysts polled by Capital IQ expected earnings of $0.02 per share.
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