Technology stocks were up premarket Friday with the Technology Select Sector SPDR Fund (XLK) gaining 1.5% and the SPDR S&P Semiconductor ETF (XSD) 1.1% higher recently.
Qorvo (QRVO) is the latest target of activist investor Starboard Value, which has taken a 7.7% stake in the chip maker valued at around $500 million, The Wall Street Journal reported late Thursday, citing unnamed sources. Qorvo shares rose past 7% premarket.
Versus Systems (VS) shares surged 60% after the company said it is expanding into Brazil and appointed Flavio Maria as country manager.
UCloudlink Group (UCL) shares advanced by over 8% after the company said it agreed to provide GlocalMe Life and Mobile/Fixed Broadband to WH Smith's InMotion Entertainment, an airport-based tech retailer in North America, at over 120 locations.
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