Tech stocks were lower late Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) decreasing 0.6% and the Philadelphia Semiconductor index falling 0.2%.
In company news, BigBear.ai (BBAI) jumped14% after the company’s Wednesday shelf registration statement filing for the potential sale, from time to time, of an undetermined amount of its securities, including common stock, preferred stock, warrants, rights and units.
Avid (AVID) and TelevisaUnivision said that they plan to collaborate in optimizing production workflows across TelevisaUnivision’s international media and content portfolio on Alphabet’s (GOOG) Google Cloud. Avid shares were down 1%.
Hello Group (MOMO) shares climbed 5% after JPMorgan upgraded the mobile social and entertainment platform’s stock to overweight from neutral.
Adobe Systems (ADBE) has agreed to pay $3 million to resolve False Claims Act allegations that it made payments in return for influence over the sale of Adobe software to the federal government, the US Justice Department said. Adobe shares were little changed.
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