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Technology stocks were ending near their intra-day highs, with the Technology Select Sector SPDR Fund (XLK) Friday rising 3.2% and the Philadelphia Semiconductor Index gaining 4.9% this afternoon.
In company news, Aehr Test Systems (AEHR) jumped 32% higher after reporting improved fiscal Q2 results compared with year-ago levels, with the chipmaking equipment company also exceeding analyst estimates for the three months ended Nov. 30.
Cisco Systems (CSCO) rose 3.3% after the networking equipment company late Thursday said it was eliminating 673 positions in California by March 13 as part of its broader efforts announced in November to reduce its workforce by 5%.
Confluent (CFLT) gained 1.4% on Friday after the data streaming company announced its purchase of privately held Immerok, which has contributed to the Apache Flink technology for building data stream processing applications. Financial terms were not disclosed.
Luminar Technologies (LAZR) fell 9.3% after short-sellers Citron Research said in a Friday tweet the automotive sensors company’s share price is likely “heading under $1.” Luminar Technologies did not immediately respond to a request for comment from MT Newswires.
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