| Author | Message | ||
     Entrepreneur Kurra Bewarse Username: Entrepreneur Post Number: 3931 Registered: 05-2011 Posted From: 24.164.46.35 Rating: N/A |
Sector Briefing: Technology (162.95 -2.81) Ten out of eleven sectors trade in the red, including the top-weighted technology sector (-1.7%), which trades near the bottom of today's leaderboard. Key factors driving today's performance include: Continued pressure on growth stocks as Treasury yields rise to their highest levels in two years. Relative weakness among chipmakers. The PHLX Semiconductor Index is down 3.0% with all of its components trading in the red. Even with today's underperformance, the SOX index remains ahead of the tech sector on the January leaderboard, showing a month-to-date loss of 4.1% versus a 6.4% January loss in the tech sector. Notable movers: Applied Materials (AMAT 158.35, -8.65, -5.2%): weakest performer in the sector, falling into the lower half of its range from Friday. Microchip (MCHP 80.06, -4.23, -5.0%): falling to its lowest level since late November with its 200-day moving average (77.71) looming below. KLA Corp (KLAC 424.14, -20.86, -4.7%): falling into the lower half of its range from Friday with its 50-day moving average (416.11) looming below. Lam Research (LRCX 697.01, -32.81, -4.5%): falling into the lower half of its range from Friday. Cadence Design (CDNS 155.15, -6.60, -4.1%): falling to its 200-day moving average (154.14). NVIDIA (NVDA 262.10, -7.32, -2.7%): slipping toward its January low (256.44). Cisco Systems (CSCO 59.96, -1.40, -2.3%): falling toward its 50-day moving average (58.87). Broadcom (AVGO 583.46, -12.91, -2.2%): falling to its lowest level since early December. Skyworks (SWKS 152.44, -3.21, -2.1%): approached its January low (149.36) before narrowing its loss. Oracle (ORCL 86.38, -1.31, -1.5%): falling below its 200-day moving average (87.06) toward its January low (85.55). Company announced that Xerox (XRX 23.67, -0.15, -0.6%) selected Oracle Cloud to support the launch of new businesses aiming to solve some of the world's most pressing problems at massive scale. Accenture (ACN 348.18, -5.18, -1.5%): falling for the third consecutive day to its lowest level since late October. Microsoft (MSFT 305.56, -4.64, -1.5%): slipping to a level not seen since mid-October. Company agreed to acquire Activision Blizzard (ATVI 83.64, +18.25, +27.9%) for $68.7 bln in cash. Mastercard (MA 367.14, -5.01, -1.3%): falling into the lower half of Friday's range. Company partnered with Coinbase (COIN 221.60, -8.43, -3.7%) to allow broader purchases of NFTs. Apple (AAPL 170.69, -2.38, -1.4%): slipping toward its January low (168.17) with its 50-day moving average (167.51) looming below. Reuters reported that Ericsson (ERIC 11.35, -0.01, -0.1%) filed a lawsuit against Apple over 5G patents. Intel (INTC 55.24. -0.46. -0.8%): slipping toward its 200-day moving average (54.54) after reclaiming that level last week. Citigroup added the stock to its positive catalyst watch list and raised its target to $58 from $52. Citrix Systems (CTXS 101.07, +5.27, +5.5%): best performer in the sector, hovering near Friday's intraday high. Bloomberg reported that the company may be acquired by a private equity firm. |