Tech stocks were lower late Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) easing 0.5% and the Philadelphia Semiconductor index declining 0.6%.
In company news, Apple (AAPL) won an appeals court ruling upholding its App Store’s policies in an antitrust case brought by Epic Games, the maker of the Fortnite game, Bloomberg reported. Apple shares were edging up 0.2%.
Carrier Global (CARR) is reportedly in advanced discussions to buy German industrial company Viessmann for at least $10 billion, including debt, in a cash-and-stock deal, The Wall Street Journal reported, citing unnamed people familiar with the matter. Carrier shares were down 7.6%.
Supermicro (SMCI) fell more than 8%. The company reported preliminary fiscal Q3 revenue of $1.28 billion, down from $1.36 billion a year earlier. Analysts surveyed by Capital IQ expect $1.46 billion.
Cisco Systems (CSCO) said its new extended detention and response solution or Cisco XDR is in beta and is expected to be commercially available in July. Cisco shares rose 0.7%.
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.