Tech stocks were edging down late Thursday afternoon, with the Technology Select Sector SPDR Fund (XLK) and the SPDR S&P Semiconductor ETF (XSD) each down about 0.3%.
The Philadelphia Semiconductor index rose 1%.
In corporate news, Red Cat (RCAT) shares fell 7% after short-seller Kerrisdale Capital said that expectations for the size of a contract to make the US Army's short-range reconnaissance drone as well as follow-on sales "bear almost no relationship to reality."
Block (SQ) has been ordered to refund up to $120 million to certain customers and pay a $55 million fine for its allegedly inadequate security measures against fraud, the Consumer Financial Protection Bureau said. Block shares rose 2.2%.
Symbotic (SYM) shares jumped 19% after the firm agreed to acquire Walmart's (WMT) advanced systems and robotics business for $200 million in cash at closing.
Taiwan Semiconductor Manufacturing (TSM) shares popped over 4% after the chipmaker recorded sharp gains in its Q4 results and issued an upbeat revenue outlook for the ongoing period.
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