Sector Update: Tech Stocks Mixed Late Afternoon
MT newswire2026/10/05 19:4203:42 PM EDT, 10/05/2026 (MT Newswires) -- Tech stocks were mixed late Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 0.7% and the State Street SPDR S&P Semiconductor ETF (XSD) shedding 0.3%. The Philadelphia Semiconductor index rose 0.3%. In corporate news, Schneider Electric said Monday it is acquiring PTC (PTC) in an all-cash deal valued at $23.7 billion. Schneider said it will pay $205 per PTC share. PTC shares surged nearly 34%. Meta Platforms (META) and Microsoft (MSFT) are reducing employees' use of Anthropic's Claude as they push their own AI tools, The Information reported. Meta shares were up 2.1%, and Microsoft rose 2.2%. Strategy (MSTR) recorded an estimated $20.91 billion gain on digital assets in Q3, the company said in a Monday filing. Its shares rose 3.2%. SpaceX (SPCX) shares are "cheap and getting cheaper," Morgan Stanley analyst Adam Jonas said in a note. The shares have hovered around $150 per share since early August, and at $159, investors can take advantage of an opportunity to buy shares that, "while expensive on any trailing metric, look unusually cheap on the forward," Jonas said. Morgan Stanley maintained its overweight rating and $300 price target on the company. SpaceX shares jumped past 6%. Nvidia's (NVDA) $20 billion licensing deal with Groq is the subject of a lawsuit alleging that Groq's board improperly sold the AI firm's core assets and top engineers, the Financial Times reported. The lawsuit, filed on Friday by Groq engineers and shareholders Benjamin Serebrin and Joshua Rubin, accuses the firm's board of not seeking to get the best price and structure for all shareholders, and not allowing some of them to vote on the deal, the report said. Nvidia shares were up 2.5%.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Analyst Gu Jingci: Follow the trend and adapt flexibly
XRP Ledger adds account control feature, enabling enterprises to manage assets offline.
BUZZ - Goldman Sachs says the price cap on cancer drugs has limited impact on Indian hospitals
October 9 – Goldman Sachs pointed out that India's implementation of a 30% profit margin cap on non-scheduled anticancer drugs (link) will have limited impact on hospitals. The report states that, based on preliminary discussions with hospital chain groups, such drugs account for less than 5% of hospital revenue and 2% to 2.5% of operating profit. The report adds that hospitals can offset the losses by slightly adjusting service charges, such as administration fees. According to a government notice, an expert committee will finalize the list of drugs to be brought under regulation. Driven by the anticipated price cap, the share prices of Max Healthcare MAXE.NS, Apollo Hospitals APLH.NS, and Fortis Healthcare FOHE.NS rose by 1.6% to 2.5%. Previously, since September 30, these stocks had collectively declined by 11% to 11.5%. Year-to-date, FOHE and MAXE are down 11.7% and 14.8%, respectively, while APLH has risen by 11%. (To assist non-English speakers, Reuters provides automated translations of its reports into several other languages. Due to potential errors or missing context in automated translations, Reuters does not guarantee the accuracy of automatic translation texts and offers them solely for readers’ convenience. Reuters accepts no responsibility for any damage or loss caused by using these automated translation features.)
Adding insult to injury! Japanese electronics giant Nidec downgraded by UBS, stock price plunges over 9% and approaches an 11-month low
UBS has downgraded Nidec's rating from "Buy" to "Neutral" and lowered its target price from 2,800 yen to 2,400 yen, citing a more challenging market environment.
Crypto prices
More
