GRAB

Technology Sector Update for 06/20/2023: GRAB, STM, ADBE, XLK, SOXX

Technology stocks were leaning lower in recent Tuesday premarket activity, with the iShares Semiconductor ETF (SOXX) declining 0.5% and the Technology Select Sector SPDR Fund (XLK) down 0.2%.

Grab Holdings (GRAB) is getting ready for its biggest round of layoffs since 2020, Bloomberg News reported, citing unspecified sources familiar with the matter. Grab Holdings stock was up more than 4% in recent Tuesday premarket activity.

STMicroelectronics (STM) and plane maker Airbus said they have agreed to work together on power electronics research and development. STMicroelectronics' shares were down nearly 2% in recent Tuesday premarket activity.

Adobe Systems' (ADBE) $20 billion proposed acquisition of rival Figma will likely face an antitrust probe by the EU, the Financial Times reported, citing four sources familiar with the matter. Adobe was 0.6% lower in recent Tuesday premarket activity.

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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