Sector Update: Tech Stocks Mixed Pre-Bell Tuesday
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Technology stocks showed mixed performance pre-bell Tuesday, with the Technology Select Sector SPDR Fund (XLK) slightly down and the SPDR S&P Semiconductor ETF (XSD) up 0.8%. CoreWeave secured a $14.2 billion deal with Meta Platforms, boosting its shares by 9%. Spotify appointed Gustav Soderstrom and Alex Norstrom as co-CEOs, while Daniel Ek becomes executive chairman, leading to a 2.5% drop in its stock. Wolfspeed's shares surged over 36% after completing its financial restructuring and exiting Chapter 11 protection.
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