Sector Update: Tech Stocks Retreating During Cyber Monday Trading – InvestorsObserver
Technology stocks were declining on Monday, with the SPDR Technology Select Sector ETF (XLK) and the Philadelphia Semiconductor Index both sliding 1.7% this afternoon.
In company news, GitLab (GTLB) fell 0.1% after RBC Capital Markets cut its price target for the software-development platform company by $20 to $55, citing macro-economic headwinds, although the broker also reiterated its outperform rating for Gitlab.
Viasat (VSAT) declined 4.1% on Monday. The satellite-services company said its Americas-focused ViaSat-3 satellite has completed a test of its payload and bus systems and has proceeded to the Flight Final stage of integration. The ViaSat-3 satellite will serve Europe, Africa and the Middle East.
Taboola.com (TBLA) raced nearly 41% higher after the algorithmic search-engine company announced a 30-year commercial agreement with Apollo Global Management’s majority-owned Yahoo internet platform, with Taboola exclusively running native advertising across all of Yahoo’s…
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