Sector Update: Tech Stocks Advance Tuesday Afternoon

MT Newswires Live08-27 01:56

Tech stocks climbed Tuesday afternoon with the Technology Select Sector SPDR Fund (XLK) up 0.1% and the SPDR S&P Semiconductor ETF (XSD) rising 1.6%.

The Philadelphia Semiconductor Index added 0.7%.

In corporate news, Heico's (HEI) fiscal Q3 results surpassed market expectations as the aerospace and electronics company recorded double-digit revenue growth in its two main segments. The shares rose 7.4%.

Nvidia (NVDA) may face a $260 billion swing in its market value following Q2 results on Wednesday, Reuters reported, citing US options market data. Nvidia shares rose 0.8%.

AT&T (T) agreed to buy 50 MHz of nationwide spectrum licenses from EchoStar (SATS) for $23 billion. EchoStar shares surged 74%.

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