Tech stocks were higher late Wednesday afternoon with the Technology Select Sector SPDR Fund (XLK) rising 2% and the Philadelphia Semiconductor index adding 2.4%.
In company news, the US State Department approved a possible $500 million sale of infrared search and track systems for F-16 fighter planes and other equipment to Taiwan with Lockheed Martin (LMT) as the principal contractor, Reuters reported Wednesday. Lockheed Martin shares rose 0.1%.
Nvidia (NVDA) shares were rising 3.3% before fiscal Q2 results after the close of regular trading.
VCI Global (VCIG) shares soared 85% after the company unveiled Wednesday a partnership between its V Galactech unit and Microsoft’s (MSFT) Azure OpenAI platform.
The US Federal Trade Commission is expected to investigate Qualcomm’s (QCOM) proposed acquisition of Autotalks, an Israeli chipmaker focused on auto safety, Politico reported late Tuesday. Qualcomm shares were up 1.7%.
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