Technology Sector Update for 05/21/2024: FSLR, AAPL, KEYS, META, BEN

Tech stocks were mixed in late Tuesday afternoon trading, with the Technology Select Sector SPDR Fund (XLK) increasing 0.1% and the SPDR S&P Semiconductor ETF (XSD) shedding 0.4%.

The Philadelphia Semiconductor index fell 0.4%.

In corporate news, First Solar (FSLR) shares jumped 6.6% as UBS and Piper Sandler upgraded their respective price targets on the stock.

Apple's (AAPL) lawyers are planning to seek dismissal of the US Department of Justice's antitrust case over grounds the suit does not allege anti competitive conduct, Bloomberg reported Tuesday. Separately, Apple is challenging a 1.8 billion euro ($1.95 billion) fine from the EU for allegedly hampering competition from rival music streamers, Bloomberg reported Tuesday. Apple shares were rising 0.8%.

Keysight Technologies (KEYS) shares tumbled past 8% after the company's fiscal Q3 guidance fell short of market estimates.

Franklin Resources' (BEN) Fiduciary Trust International unit said Tuesday vice chair and Meta (META) investor Lisette Cooper filed a resolution for a shareholder vote for targets to reduce dangers and threats to children on Meta's social media platforms. Meta shares were falling nearly 1%.

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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