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Technology stocks were edging lower Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) falling 0.4% while the Philadelphia Semiconductor Index was sliding 0.4%.
In company news, EHang Holdings (EH) shares dropped 8.2% after Friday saying the Qingdao West Coast New Area in Shandong province has acquired a $10 million equity stake in the Chinese aerial drones manufacturer as part of a new partnership expanding its autonomous aerial vehicle and urban air mobility business in Qingdao. Ehang also is expected to establish a regional headquarters and a national firefighting business center in the area as part of the deal that also provides the regional government authority with the option to buy another $10 million in EHang stock.
Aptiv (APTV) shares fell less than 0.1%, paring a 1.3% decline earlier Friday, after the electronic components company said it completed its $3.5 billion acquisition of the Wind River software firm from private-equity investors TPG. The purchase price was reduced from $4.3 billion due to changes in the target company’s operating structure needed to win regulatory approval for the deal.
Motorola Solutions (MSI) shares rose fractionally on Friday, adding about 0.2%, after the Federal Court of Australia ruled rival Hytera Communications infringed on a Motorola Solution patent with its digital mobile radio products. The court also ruled the Motorola Solutions is eligible for damages to be determined at a later date after Hytera infringed on its copyrights.
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