Technology stocks still were falling in afternoon trading, with the SPDR Technology Select Sector ETF declining 5.8% while the Philadelphia Semiconductor Index was slipping 6.8%.
Among technology stocks moving on news:
(+) LightPath Technologies (LPTH) raced almost 47% higher to a 14-month high of $1.82 a share after the electronic components company announced more than $1.7 million new orders for multiple thermal imaging lens assemblies used in medical and sensing applications in the Asian market to combat the spread of COVID-19.
In other sector news:
(-) Twitter (TWTR) was nearly 3% lower in late-afternoon trade, recouping a portion of an 8.5% mid-morning decline, after the social media company Monday said private equity firm Silver Lake will invest $1 billion that together with available cash will fund a $2 billion stock buyback program.
(-) Flex (FLEX) fell almost 11% after the Singapore-based contract manufacturer Monday said it was unlikely to meet its current guidance expecting non-GAAP Q4 net income of $0.30 to $0.34 per share on between $5.8 billion to $6.2 billion in revenue because of the COVID-19 outbreak.
(-) Aehr Test Systems (AEHR) was nearly 7% lower, paring a more than 11% decline earlier Monday, after saying it received more than $2.9 million in orders, including a single order for its proprietary WaferPak DiePak carriers worth around $2.3 million from one of its existing customers for FOX test and burn-in systems. The orders were booked during the company's fiscal Q3 that ended Feb. 29 and Aehr said it is expecting to complete the deliveries by the end of its fiscal year on May 31.
Price: 1.55, Change: +0.31, Percent Change: +24.85
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