Technology Stocks Higher; EBay Shines, Amazon Slips
Thursday, June 30, 2021 2:52 PM

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EBay Inc. (Nasdaq: EBAY) led solid gains for the tech sector stocks on Thursday. EBay shares climbed 4.60 percent to $32.28 after two brokers upgraded the stock to buy ratings, citing reduced overhang following a ruling from the Federal Reserve's published rules on interchange fees that will not regulate the company's PayPal service as a "payment network." On the other hand, shares of Amazon.com Inc. (Nasdaq: AMZN) dropped 0.70 percent to $202.75, after California Governor Jerry Brown signed a law that would force Internet retailers to collect sales tax, on Wednesday. Amazon said that it will oppose the law. The semiconductor stocks showed strength, Texas Instruments Inc. (NYSE: TXN) which rose 2.51 percent to $32.68, QUALCOMM Inc. (Nasdaq: QCOM) also gained 2.27 percent to $56.69, and STMicroelectronics NV (NYSE: STM) added 2.26 percent to $9.97. Among other gainers, Google Inc. (Nasdaq: GOOG) added 1.33 percent to $504.18, Intel Corp. (Nasdaq: INTC) gained 2.99 percent to $22.03, and Microsoft Corp. (Nasdaq: MSFT) was trading higher by 1.41 percent to $25.98. In the broader sector, The Nasdaq Composite Index was trading higher by 1.10 percent to 2,770.70, and Morgan Stanley High-Technology Index (MSH) climbed 1.65 percent to $656.92. Among the ETF’s, the Technology Sector Select SPDR Fund ETF (NYSEArca: XLK) had gained 1.18 percent to $25.68 and SPDR Morgan Stanley Technology ETF (NYSE: MTK) trading up 0.94 percent to $64.73 on Thursday.

 

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