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Technology stocks were declining on Thursday, with the Technology Select Sector SPDR Fund (XLK) falling 1.3% and the Philadelphia Semiconductor Index down 0.7% this afternoon.
In company news, Tetra Tech (TTEK) tumbled 5.7% after the cybersecurity company announced its purchase of privately held rival Amyx for an undisclosed sum, with the acquired company becoming part of Tetra Tech’s government services group.
AppLovin (APP) declined 8.5% after Benchmark began coverage of the mobile applications development platform with a sell stock rating and a $7 price target.
Phunware (PHUN) gained 5.8% after the software firm plans to buy back $5 million shares over the next 12 months.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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