Technology stocks trimmed a portion of their midday slide Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) falling 0.2% in late trade while the Philadelphia Semiconductor Index declined by 0.2%.
In company news, Nutanix (NTNX) slumped 7.6% after Hewlett Packard Enterprise (HPE) reportedly ended buyout talks with the cloud computing company. The data-analytics firm confirmed in a statement to Dealreporter there were no ongoing discussions between the companies while three sources familiar with the matter told the newsletter Hewlett Packard’s interest in a potential takeover has dwindled in recent weeks, according to a Bloomberg report. Hewlett Packard Enterprise was 0.3% higher in late trade, rebounding from a 1.4% mid-morning decline earlier Friday.
EHang Holdings (EH) shares dropped 8.7% after Friday saying the Qingdao West Coast New Area in Shandong province has acquired a $10 million equity stake in the Chinese company as part of a new partnership expanding its aerial drones and urban air mobility business in Qingdao. Ehang also is expecting to establish a regional headquarters and a national firefighting business center in the region as part of the deal that also provides the regional government authority with the option to buy another $10 million in EHang stock.
Aptiv (APTV) shares fell less than 0.1%, paring a 1.3% decline earlier Friday after the electronic components company said it completed its $3.5 billion acquisition of the Wind River software firm from private-equity investors TPG. The purchase price was reduced from $4.3 billion due to changes in the target company’s operating structure needed to win regulatory approval for the deal.
Motorola Solutions (MSI) shares rose fractionally on Friday, adding about 0.4% after the Federal Court of Australia ruled rival Hytera Communications infringed on a Motorola Solution patent with its digital mobile radio products. The court also ruled that Motorola Solutions is eligible for damages to be determined at a later date after Hytera infringed on its copyrights.
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