Last Price$8.06NYSE Previous Close - Last Trade as of 7:00PM ET 5/17/22

Today's Change+0.27(3.47%)
Bid (Size)$7.45 (5)
Ask (Size)$9.00 (1)
Day Low / High$7.67 - 8.12
Volume2.3 M

Sector Update: Tech Stocks Tumble Thursday

3:57PM ET 1/13/2022 MT Newswires
Technology stocks added to their Thursday dive, with the SPDR Technology Select Sector ETF (XLK) Thursday sinking 2.2% and the Philadelphia Semiconductor Index falling 1.7% this afternoon.

In company news, Duolingo (DUOL) dropped almost 11% after Piper Sandler Thursday cut its price target for the language-learning website and mobile app by $45 - or just under 25% - to $137 a share while keeping its overweight rating for the company's stock.

Virgin Galactic Holdings (SPCE) slid 19% after the space transport company Thursday disclosed plans for a $425 million private placement of convertible senior notes due 2027. Net proceeds will fund working capital, general and administrative matters, and the development of its spacecraft fleet.

8x8 (EGHT) was nearly 1% higher, overcoming a mid-morning slump after saying ocV!BE Sports & Entertainment is now using the company's cloud communications technology for onsite and remote employees at five locations, including the NHL's Anaheim Ducks hockey team and its Honda Center home arena.

Taiwan Semiconductor Manufacturing (TSM) added 5.7% after the chipmaker Thursday reported Q4 net income of 32.05 New Taiwan dollars ($1.15) per American depositary share, up from NT$27.53 per ADS a year earlier and beating the Capital IQ consensus expecting a $1.12 per share profit. Net revenue increased 21.1% over year-ago levels to 438.19 billion New Taiwan dollars, also exceeding the 436.1 New Taiwan dollars Street view.