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Technology Sector Sees Mixed Performance as Perfect Surges on Buyback Plan

EditorNikhilesh Pawar
Published 11/27/2023, 11:46 AM
© Reuters.
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The technology sector exhibited a varied performance today, with the SPDR S&P Semiconductor ETF (NYSE:XSD) holding steady, while the Technology Select Sector SPDR Fund (XLK) experienced a modest premarket decline of 0.2%. In contrast, shares of Perfect (NASDAQ: PERF) soared, climbing over 14% following the company's announcement of a tender offer to repurchase $50 million of its shares at $3.10 each.

In other industry news, night (NASDAQ: LASR) shares rose more than 5% today. The company's stock boost came on the heels of securing a significant $34.5 million contract with the US Army. This contract is for nLight to provide prototype lasers for an air defense system, marking a notable win for the laser technology firm.

Meanwhile, Canadian Solar (NASDAQ: NASDAQ:CSIQ) found itself on the other end of the spectrum, with its shares dipping by 1% today. This slight decline occurred despite the company's e-STORAGE division achieving preferred supplier status for the Summerfield battery storage project. This project, managed by Copenhagen Infrastructure Partners in Australia, will include a range of services from engineering and procurement to construction and operations. The status secured by Canadian Solar's e-STORAGE division reflects the company's growing presence in the renewable energy sector and its expanding global footprint.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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