Technology Sector Update for 01/09/2024: HPE, JNPR, U, MSFT

Tech stocks were advancing Tuesday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 0.2% and the SPDR S&P Semiconductor ETF (XSD) up 0.7%.

The Philadelphia Semiconductor index rose 0.5%.

In corporate news, Hewlett Packard Enterprise (HPE) is close to a $13 billion deal to buy Juniper Networks (JNPR), according to media reports Monday. Juniper shares jumped 22% and Hewlett Packard Enterprise slumped about 8%.

Unity Software (U) fell 7.8% after the company said it's continuing its restructuring efforts and plans to cut its workforce by about 25%.

Microsoft's (MSFT) investment in OpenAI is being checked by the European Commission as to whether it might be reviewable under EU merger regulations, the commission said Tuesday. Microsoft was fractionally lower.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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