Technology sector

Tech Sector Update 6/16/2022: TWTR,WIT,U,DNA

JTech stocks continued to slide during Thursday’s session, with the SPDR Technology Select Sector ETF (XLK) dropping 4.4% while the Philadelphia Semiconductor Index slipped 6.6% this post- midday.

In company news, Twitter (TWTR) was down 2.1% at the end of Thursday’s session, returning a roughly 2% lead after Elon Musk failed in a convened noon video conference call. to address employee concerns over its proposed takeover of the social media company. , according to several reports. Employee response to the call has been largely negative, according to CNBC, citing comments posted on an internal message board, while a Reuters report quoted an unidentified Twitter employee as saying that Musk “seems unprepared and s ‘get out of it’.

Wipro (WIT) fell 5.3% after the Indian IT services company announced it had made an unspecified strategic investment in ShiftLeft through Wipro Ventures under its existing go-to-market partnership with the private IT provider. automated application security testing.

Unity Software (U) fell 9% after Benchmark launched the company’s coverage of interactive 3D content with a sell rating and price target of $27. Separately, Jefferies on Thursday also lowered its price target for Unity shares by $4 to $36 per share, maintaining its holding rating for the company’s stock.

Among the winners, Advent Technologies Holdings (ADN) more than tripled on Thursday after Greek authorities approved 782.1 million euros ($818 million) in funding for the company’s Green HiPo project.

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