Technology stocks were lower in late Monday afternoon trading, with the Technology Select Sector SPDR Fund (XLK) slipping 0.4% and the Philadelphia Semiconductor index down 0.7%.
In company news, Pinterest’s (PINS) shares were up 2.1% after analysts at UBS said, while upgrading their rating on the stock, that the company’s ad-tech and partner monetization efforts could help unlock incremental demand and drive revenue higher.
Apple (AAPL) Chief Executive Tim Cook met Chinese Commerce Minister Wang Wentao to discuss industrial stabilization and supply chains, according to media reports. Apple stock was down 1.2% in recent trading.
Blackbaud (BLKB) was up nearly 11% after its board rejected a buyout offer from private-equity firm Clearlake Capital, which offered $71 per share in cash.
Tempo Automation (TMPO) was up more than 11% after saying it has agreed to buy Optimum Design Associates for an undisclosed sum.
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