Tech stocks were mixed late Thursday afternoon with the Technology Select Sector SPDR Fund (XLK) decreasing 0.4% and the SPDR S&P Semiconductor ETF (XSD) jumping 2%.
The Philadelphia Semiconductor Index gained 2%.
In corporate news, Rubrik’s (RBRK) shares surged 19% in their debut on the New York Stock Exchange after opening at $38.60, ahead of the initial public offering price at $32.
Apple (AAPL) has been asked by a group of lawyers representing the Democratic Republic of the Congo to address concerns about the company’s supply chain due to the alleged use of conflict minerals in the production of devices, law firm Amsterdam & Partners said Thursday. Apple shares were up 0.5%.
Meta Platforms (META) late Wednesday reported Q1 earnings and revenue that topped estimates by analysts while raising its spending guidance in 2024. The shares dropped more than 10%.
International Business Machines (IBM) agreed to buy HashiCorp (HCP) in a deal with an enterprise value of $6.4 billion. The company also reported Q1 revenue that fell short of market expectations. IBM shares tumbled 9%, while HashiCorp gained 4.7%.
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