Tech stocks were advancing late Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 0.2% and the Philadelphia Semiconductor Index adding 0.3%.
In corporate news, Applied Optoelectronics (AAOI) said Friday it has priced an upsized private offering of $80.2 million of 5.25% convertible senior notes due 2026. Its shares surged nearly 23%.
UiPath (PATH) shares jumped 26% as analysts increased their price targets on the stock following the release of the company’s fiscal Q3 results late Thursday.
Elastic (ESTC) shares soared 37% after it reported fiscal Q2 non-GAAP diluted earnings of $0.37 per share, compared with a breakeven a year earlier.
Marvell Technology (MRVL) shares fell 5.5% after the company’s downbeat outlook for fiscal Q4 led to price-target cuts by analysts.
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