Technology Sector Update for 06/20/2023: GRAB, STM, ADBE, XLK, SOXX


Technology stocks were leaning lower in recent Tuesday premarket activity, with the iShares Semiconductor ETF (SOXX) declining 0.5% and the Technology Select Sector SPDR Fund (XLK) down 0.2%.

Grab Holdings (GRAB) is getting ready for its biggest round of layoffs since 2020, Bloomberg News reported, citing unspecified sources familiar with the matter. Grab Holdings stock was up more than 4% in recent Tuesday premarket activity.

STMicroelectronics (STM) and plane maker Airbus said they have agreed to work together on power electronics research and development. STMicroelectronics’ shares were down nearly 2% in recent Tuesday premarket activity.

Adobe Systems’ (ADBE) $20 billion proposed acquisition of rival Figma will likely face an antitrust probe by the EU, the Financial Times reported, citing four sources familiar with the matter. Adobe was 0.6% lower in recent Tuesday premarket activity.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Original Post

Articles You May Like

Blackpink renews contracts with YG, K-pop agency shares spike 29%
Former U.S. ambassador arrested, accused of serving as an Cuba agent
TikTok is driving spending for women in their 20s
Here’s How Much $100 Invested In Bitcoin Today Will Be Worth If Crypto Hits New All-Time Highs
Singapore once again the world’s most expensive city to live in: EIU

Leave a Reply

Your email address will not be published. Required fields are marked *