Technology Sector Update for 01/24/2022: SGH,FB,PLTK,NNDM,TTMI,VERB

Technology stocks rebounded somewhat this afternoon, with the SPDR Technology Select Sector ETF (XLK) Monday slipping 1.6% while the Philadelphia Semiconductor Index was falling less than 0.1% in late trade.

In company news, SMART Global Holdings (SGH) was 1.6% higher, erasing a nearly 4% morning decline, after the specialty chipmaker said its Penquin Computing unit was providing artificial-intelligence architecture and managed services for a new supercomputer platform developed by Facebook parent company Meta (FB) for AI research. In a Monday blog post, Meta said its AI Research SuperCluster already is among the fastest AI supercomputers running today and "will be the fastest AI supercomputer in the world when it's fully built out" later in 2022. Meta shares were up 1.2% this afternoon.

Nano Dimension (NNDM) rose 2% after the electronics products company Monday announced a new partnership with printed circuit board-maker TTM Technologies (TTMI) to open its first additively manufactured electronics NanoLab at TTM Tech's production facility in Stafford Springs, Connecticut. TTM Technologies shares were down 0.8%.

Verb Technology (VERB) turned nearly 1% higher after the software-as-a-service firm Monday named Salman Khan to be its interim chief financial officer, succeeding Jeffrey Clayborn. Khan previously was executive vice president for corporate development and strategic planning at the company.

Among decliners, Playtika Holding (PLTK) slid over 12% after saying majority owner Playtika Holding UK II Ltd, an investment vehicle affiliated with Chinese gaming entrepreneur Yuzhu Shi, was exploring the potential sale of between 15% to 25% of its equity stake in the mobile gaming and entertainment company. PHUK II currently owns about 60.2% of Playtika's outstanding shares, according to a new regulatory filing, and the company Monday said it's possible after the stock sales that its stake could drop below 50% and Playtika would no longer be considered a "controlled company" under Nasdaq rules.

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

In This Story


Latest Technology Videos


Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

Learn More