Tech stocks were higher late Monday, with the Technology Select Sector SPDR Fund (XLK) up 0.2% and the Philadelphia Semiconductor index also advancing 0.3%.
In company news, Meta Platforms (META) is in discussions with Magic Leap, an augmented-reality startup, for a multi-year agreement as part of its pursuit to form a metaverse, the Financial Times reported. Meta shares rose 1.1%.
Separately, Meta’s (META) Irish unit has received a 1.2 billion-euro ($1.3 billion) fine by European Union regulators for the transfer of EU Facebook user data to the US.
Micron Technology (MU) is forecasting a low- to high-single digit hit to its revenue after China’s cyberspace regulator informed the US chipmaker that it failed to pass the country’s network security review. Micron shares dropped 2.9%.
Microsoft (MSFT) said that PC games from Xbox Game Studios and Bethesda will be available for members of cloud gaming platform Boosteroid starting June 1. Shares rose 0.8%.
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