👀 Ones to watch: The MOST undervalued stocks to buy right nowSee Undervalued Stocks

Technology Sector Sees Mixed Performance as Perfect Surges on Buyback Plan

EditorNikhilesh Pawar
Published 27/11/2023, 17:48
© Reuters.
CSIQ
-
PRFT
-
XSD
-
LASR
-

The technology sector exhibited a varied performance today, with the SPDR S&P Semiconductor ETF (NYSE:XSD) holding steady, while the Technology Select Sector SPDR Fund (XLK) experienced a modest premarket decline of 0.2%. In contrast, shares of Perfect (NASDAQ: PERF) soared, climbing over 14% following the company's announcement of a tender offer to repurchase $50 million of its shares at $3.10 each.

In other industry news, night (NASDAQ: LASR) shares rose more than 5% today. The company's stock boost came on the heels of securing a significant $34.5 million contract with the US Army. This contract is for nLight to provide prototype lasers for an air defense system, marking a notable win for the laser technology firm.

Meanwhile, Canadian Solar (NASDAQ: NASDAQ:CSIQ) found itself on the other end of the spectrum, with its shares dipping by 1% today. This slight decline occurred despite the company's e-STORAGE division achieving preferred supplier status for the Summerfield battery storage project. This project, managed by Copenhagen Infrastructure Partners in Australia, will include a range of services from engineering and procurement to construction and operations. The status secured by Canadian Solar's e-STORAGE division reflects the company's growing presence in the renewable energy sector and its expanding global footprint.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.