Tech stocks declined late Wednesday afternoon with the Technology Select Sector SPDR Fund (XLK) falling 1.3% and the Philadelphia Semiconductor index tumbling 4%.
In corporate news, Fortive (FTV) shares fell 8.1% after the company reported fiscal Q3 revenue that missed estimates by analysts.
Shenandoah Telecommunications (SHEN) said late Tuesday it agreed to buy the parent company of Horizon Telecom for $385 million. Shenandoah gained 9.8%.
Alphabet (GOOG) shares slumped 9.4% as the company logged lower annual growth in its cloud business for Q3 compared with the previous two quarters.
Microsoft (MSFT) shares rose 3% following better-than-expected fiscal Q1 results.
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