Tech stocks were mixed to higher on Tuesday afternoon with the Technology Select Sector SPDR Fund (XLK) advancing 0.5%, paring earlier gains, and the Philadelphia Semiconductor index easing 0.1%, erasing an earlier advance.
In company news, Nvidia (NVDA) crossed the $1 trillion valuation milestone at the open following better-than-expected quarterly results last week. Nvidia shares were up 2.9%.
Desktop Metal (DM) said its board adopted a limited duration shareholder rights plan to guard against hostile takeovers following its recently announced $1.8 billion merger with Stratasys (SSYS). Desktop Metal shares rose 0.3%.
Elastic (ESTC) said it signed a three-year global strategic collaboration agreement with Amazon.com’s (AMZN) Amazon Web Services to accelerate integrated go-to-market activities. Elastic shares were up 3.8%.
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