Sector Update: Tech Stocks Higher Pre-Bell Friday

MT Newswires Live04-17 21:01

Technology stocks were higher pre-bell Friday, with the State Street Technology Select Sector SPDR ETF (XLK) gaining 1.6% and the State Street SPDR S&P Semiconductor ETF (XSD) 2% higher.

Microsoft (MSFT) shares were up 1.6% in premarket activity. Microsoft Italy and Expert.ai said they have entered into a collaboration to accelerate the adoption of artificial intelligence for enterprise use cases.

Uber Technologies (UBER) shares were up 1.8% prebell. Prosus said Uber is acquiring roughly 13.6 million ordinary shares of Delivery Hero from Prosus, representing about 4.5% stake.

Adobe (ADBE) stock was up 2.6% before the bell, adding to the 1.4% gain at the previous close. UBS lowered its price target to $260 from $290, while maintaining a neutral rating.

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