Tech stocks were lower late Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) declining 0.3% and the Philadelphia Semiconductor index falling 1.5%.
In company news, Broadcom’s (AVGO) planned acquisition of VMware (VMW) “may restrict competition in the market for certain hardware components,” the European Commission said in a statement of objections published Wednesday. Broadcom shares were down 0.6% and VMware was declining 0.2%.
Emerson Electric (EMR) agreed to acquire National Instruments (NATI) for $60 per share in cash at an equity value of $8.2 billion. Emerson shares were down 1.2%, while National Instruments was up almost 10%.
Pinterest (PINS) said it will introduce new safety tools for teens, including the expansion of its age verification process by the end of this month. The company’s shares were down 1.2%.
Block’s (SQ) Square business said Wednesday it launched 100 new features across its products to help sellers maximize their revenue and automate operations. Block fell about 5%.
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