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Sector Update: Tech

May 16, 2024 10:57 AM

01:36 PM EDT, 05/16/2024 (MT Newswires) -- Tech stocks were mixed Thursday afternoon, with the Technology Select Sector SPDR Fund (XLK) slightly lower and the SPDR S&P Semiconductor ETF (XSD) up 0.2%.

The Philadelphia Semiconductor index rose 0.4%.

In corporate news, Synopsys' ( SNPS ) planned acquisition of Ansys ( ANSS ) is facing regulatory scrutiny in China, the companies said in separate filings Thursday. The proposed deal values Ansys ( ANSS ) at about $35 billion in cash and stock. Synopsys ( SNPS ) shares fell 1.5% and Ansys ( ANSS ) was down 0.4%.

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