Tech stocks on the move

Five9

06/12/2023 17:00

The Nasdaq 100 Technology Index  .NDXT  rose 0.64% to 8,805.48
points on Wednesday as investors turned more optimistic about
rate cuts from the U.S. Federal Reserve early next year, after
data showed further signs of a cooling jobs market.
    Tech stocks outperformed the broader market, helping the
Nasdaq  .IXIC  gain 0.34%.  .N 
    
TOP TECH NEWS
** SentinelOne  S.N  up 20.5% at $24.09 - Co forecasts strong
quarterly revenue and analysts see growing prominence in the
cybersecurity market
** Five9  FIVN.O  up 2.4% at $81.90 - Co says it is not pursuing
a sale
** Microsoft  MSFT.O  down 0.4% at $371.23 - The U.S. Federal
Trade Commission is set to argue that a federal judge
incorrectly ruled that Microsoft's $69 billion acquisition of
Activision Blizzard was legal under competition law, in a
continued effort to halt the deal
    
TECH STOCKS TO WATCH
** Nvidia  NVDA.O  down 0.2% at $464.76 - Is working with the
U.S. government to ensure its new chips for the Chinese market
comply with export restrictions despite potential sales drops in
China
** Alphabet  GOOGL.O  up 0.2% at $131.28 - Introduces Gemini,
its advanced artificial intelligence model capable of processing
diverse information types, along with a new generation of
custom-built AI chips for efficient large model training
** Advanced Micro Devices  AMD.O  up 1.3% at $119.90 - Chip
designer set to announce MI300 series of chips for AI processing
to compete with Nvidia's silicon
    
#MEMEWATCH - TOP TRENDING, ACCORDING TO STOCKTWITS.COM
** NIO's  NIO.N  U.S.-listed shares up 9.5% at $9.14 - Posts on
X suggest NIO shares are trading higher after a Reuters report
that said the company plans to spin off its battery
manufacturing unit
** Sera Prognostics  SERA.O  up 268.1% at $7.73 - Users on X say
shares have more than doubled following successful study
results, leading to high trading volume and speculation about
insider activity
** Altimmune  ALT.O  up 35.2% at $6.99 - Users on X suggest
shares are attracting investor interest due to potential M&A
activity

 (Reporting by Akash Sriram in Bengaluru)
 ((Akash.Sriram@thomsonreuters.com; On X as @HoodieOnVeshti;
+91-74116-87774;))