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Technology stocks were declining Friday afternoon, with the SPDR Technology Select Sector ETF (XLK) falling 0.5% while the Philadelphia Semiconductor Index was sliding 0.9%.
In company news, Richardson Electronics (RELL) gained 8.4% after the customized display company late Wednesday said it will start carrying radio frequency gallium nitride components from Gallium Semiconductor through a new distribution agreement with the chipmaker. Financial terms were not disclosed.
Desktop Metal (DM) rose fractionally, climbing 0.8%, after the 3D printing systems company said Friday it received a $9 million order from an unnamed German automaker for production additive manufacturing systems used to make powertrain components and marking the second multi-million-dollar order in less than a year from the same customer.
RumbleON (RMBL) slipped nearly 1% after Baird on Friday cut its price target for the ecommerce platform by $5 to $10 and reiterated an outperform rating for its stock.
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