Tech stocks were higher late Friday afternoon with the Technology Select Sector SPDR Fund (XLK) advancing 2.2% and the Philadelphia Semiconductor index adding 2.4%.
In corporate news, OmniQ (OMQS) shares tumbled 48% after the company said it priced an underwritten public offering of 3 million shares, or pre-funded warrants in lieu of shares, at $1 per share for gross proceeds of $3 million.
Tesla (TSLA) cut prices on its Model 3 and Model Y cars in the US with the Model 3 sedan’s price dropping to $38,990 from $40,240, according to the company’s website. Separately, Tesla may get the final permits to build an electric vehicle factory in the Mexican state of Nuevo Leon within weeks, Reuters reported. Tesla shares were up 0.4%.
Microsoft (MSFT) is hoping to close the acquisition of Activision Blizzard (ATVI) on Oct. 13, The Verge reported Friday, citing a source familiar with Microsoft’s plans. Microsoft shares rose 2.9%, and Activision gained 0.6%.
ShiftPixy (PIXY) slumped 17% after it struck a deal to sell about 2.3 million shares and a concurrent private placement of warrants to buy the same number of shares to a single US institutional investor, with estimated gross proceeds of $2.5 million.
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