Tech stocks were mixed late Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 1.3% and the Philadelphia Semiconductor Index down 0.7%.
In company news, Revvity (RVTY) reported fiscal Q3 adjusted earnings of $1.18 per share, down from $1.21 a year earlier. Analysts polled by Capital IQ expected $1.19. Its shares slumped 15%.
Lumentum (LITE) gained 11% after it said Monday it has agreed to buy Cloud Light Technology in a deal valued at about $750 million, subject to adjustments.
Western Digital (WDC) announced plans to split into two public companies by separating its hard drive and flash businesses, while its fiscal Q1 revenue fell less than the market had expected. The shares jumped 7.5%.
ON Semiconductor (ON) shares tumbled 20% after the company provided a downbeat outlook for Q4, despite reporting better-than-expected Q3 results.
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