Tech stocks were lower Tuesday afternoon, with the Technology Select Sector SPDR Fund (XLK) decreasing 0.9% and the SPDR S&P Semiconductor ETF (XSD) down 0.5%.
The Philadelphia Semiconductor index fell 0.9%.
In corporate news, FTAI Aviation (FTAI) shares jumped 15% Tuesday, a day after the firm issued its initial financial guidance for fiscal year 2025 and launched a strategic capital initiative.
Texas Instruments (TXN) and other non-mainland China chip makers for electric vehicles could lose market share as Beijing pressures domestic EV manufacturers to use microchips produced at home, the Wall Street Journal reported. Texas Instruments shares were down 0.5%.
EHang (EH) said it expects Q4 revenue of 162 million renminbi ($22.2 million), up 20% from the guidance of 135 million renminbi. EHang shares rose 1.1%.
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