Sector Update: Tech Stocks Edge Higher Premarket Tuesday

MT Newswires Live

Oct 15, 2024

Technology stocks were edging higher premarket Tuesday, with The Technology Select Sector SPDR Fund (XLK) and SPDR S&P Semiconductor ETF (XSD) up 0.1%.

Wolfspeed (WOLF) shares were up past 32% after the company said it expects up to $2.50 billion in additional capital, including a proposed $750 million in federal investment, another $750 million in new financing, and $1 billion of cash tax refunds.

Ericsson (ERIC) shares advanced over 9% after the company reported Q3 earnings and net sales that topped Capital IQ analysts' estimates.

Guidewire Software (GWRE) shares were over 1% lower after the company said it is launching a private offering of $500 million worth of convertible senior notes due 2029.

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