Tech stocks fell Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) decreasing 0.6% and the Philadelphia Semiconductor index falling 1,1%.
In corporate news, N-able (NABL) shares tumbled 12% after the company’s Q4 and 2023 revenue guidance trailed market expectations.
Monday.com (MNDY) jumped 11% after it posted better-than-expected Q3 results and raised its 2023 sales outlook.
Micron Technology (MU) was sued by Chinese chip manufacturer Yangtze Memory Technologies for alleged patent infringement, media outlets reported. Micron was shedding 0.7%.
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