Tech stocks were higher late Tuesday with the Technology Select Sector SPDR Fund (XLK) gaining 2.1% and the Philadelphia Semiconductor index up 3.6%.
In company news, Apple (AAPL) is opposing the Online Safety Bill in the UK that could be used to mandate encrypted messaging apps like iMessage to scan messages for child-abuse material, BBC News reported Tuesday. Apple shares were up 1.6%.
Separately, Apple lost a ruling by a US judge to dismiss the company’s attempt to stop a class-action lawsuit alleging that Chief Executive Officer Tim Cook defrauded shareholders by hiding decreasing Chinese demand for iPhones, Reuters reported Tuesday.
Nano Dimension (NNDM) said Tuesday it raised the price of its tender offer to $20.05 per share in cash from $18 for outstanding shares of Stratasys (SSYS). Stratasys jumped 6.7% and Nano Dimension rose 1.3%.
Meta Platforms (META) said Tuesday it has rolled out new tools to improve parental supervision for Messenger and Instagram and limit unwanted interactions between teens and strangers. Meta shares were up 3%.
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