Tech stocks were lower Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) down 0.7% and the SPDR S&P Semiconductor ETF (XSD) dropping 2.4%.
The Philadelphia Semiconductor index fell 2%.
In corporate news, a German court has ruled that Amazon.com (AMZN) is using Nokia's (NOK) patented video technology in its streaming devices without getting the necessary license, Reuters reported Friday. Amazon shares were marginally higher and Nokia added 0.4%.
Olo (OLO) shares popped 3% after the company said Friday it will reduce its workforce by about 9% to support its long-term growth objectives.
Urgent.ly (ULY) shares dropped 4.3% after it said Friday it completed the divestiture of its The Floow unit, a connected insurance technology provider.
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