- The tech sector is once again shaking off some dust with the Technology Select Sector SPDR Fund (NYSEARCA:XLK) up 2.2%, the S&P 500 Index up 1.6%, the tech heavy Nasdaq 100 up 1.9%, and the Philadelphia Semiconductor Index is up 2.2%.
- Software: Adobe (NASDAQ:ADBE) +8.3% is driving software gains off its FY19 guidance, offsetting Palo Alto’s -3.4% weakness following its appointment of Google (NASDAQ:GOOGL) vet Amit Singh as president. Twilio -4.5% is still dropping following its $2B acquisition offer for SendGrid +13%.
- Internet: Facebook (NASDAQ:FB) +2.4% and Snap -3.7% cancel each other out a bit after diverging initiations at Loop Capital while Snap also received a negative note from Cascend.
- Previously: Qualcomm (NASDAQ:QCOM), FTC ready to talk deal in antitrust case (Oct. 16)
- Previously: Facebook +0.8% as Rosenblatt starts at Buy in long-term look (Oct. 16)
- Semiconductors: Semis are up on a Deutsche Bank (DE:DBKGn) note positive on Xilinx (NASDAQ:XLNX) +3% and Qualcomm +2.5% nearing an FTC settlement in its antitrust case. Other movers with no clear catalysts include AMD (AMD +4.9%) and Skyworks (SWKS +1.1%).
- Hardware: Cognex +5% pushes up after a Needham upgrade. Movers on no to little news include (STX +2.1%), (NTAP +2.4%), and (WDC +1.8%).
- Notable aftermarket earnings: IBM (NYSE:IBM) +2%, Lam Research (NASDAQ:LRCX) +1.4%, Cree +5.5%.
- Related software and semi ETFs: SOXL, SOXX, SMH, USD, PSI, XSD, IGV, SOXS, PSJ, SSG, XSW, FTXL, XTH
- Top news stories from yesterday afternoon and this morning:
- Previously: Cognex +2.2% as Needham leaves sidelines (Oct. 16)
- Previously: Twilio -4% on $2B purchase of SendGrid; SEND +13.6% (Oct. 15)
- Previously: Palo Alto Networks names Google's Singh as new president (Oct. 1)
- Now read: AMD Short Interest Drops Again
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