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Technology stocks were advancing on Wednesday, with the Technology Select Sector SPDR Fund (XLK) rising 1.1% and the Philadelphia Semiconductor Index gaining 0.4% this afternoon.
In company news, Masimo (MASI) rose 2.4% after a US administrative law judge late Tuesday ruled that Apple (AAPL) infringed one of Masimo patents for pulse oximeters with selected Apple smart watches imported and sold in the US since 2020. The issue now moves to the US International Trade Commission to determine whether an import ban on Apple watches is necessary. Apple shares were 1.6% higher Wednesday afternoon.
Entegris (ENTG) climbed 2.3% after it said it would invest around $50 million to increase its production and purification capacity over the next two years at its facilities in Colorado and California ahead of the anticipated increase in demand for its electronic chemicals business.
Ondas Holdings (ONDS) gained 4.8% after Wednesday saying it will make unspecified job cuts in its American Robotics unit ahead of completing its purchase of industrial drone manufacturer Airobotics before the end of the month.
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