Tech stocks were higher Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 0.2% and the Philadelphia Semiconductor index advancing 0.4%.
In corporate news, UiPath (PATH) shares jumped 25% as analysts increased their price targets on the stock following the release of the company’s fiscal Q3 results late Thursday.
Elastic (ESTC) shares surged 35% 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 5.6% after the company’s downbeat outlook for fiscal Q4 prompted price-target cuts by analysts.
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