Shares of interactive software platform Unity (NYSE:U) fell 2.9% in the afternoon session after the stock was caught in a wider technology sector downturn. The broader technology sector fell 1.7% on Friday, pressured by disappointing forecasts from major companies like Dell and Nvidia, which created negative sentiment for tech stocks. Adding to the pressure, a weak forecast from chipmaker Marvell further soured sentiment on the sector.
Shares of database platform company MongoDB (NASDAQ:MDB) fell 2.5% in the afternoon session after the broader market pullback impacted the technology sector.
Shares of laser company nLIGHT (NASDAQ:LASR) fell 4.1% in the afternoon session after announcements of new U.S. export restrictions on semiconductor technology to China. The U.S. Department of Commerce announced it was closing a loophole that allowed some foreign companies to export semiconductor manufacturing equipment to China without a license. This regulatory tightening creates a new headwind for the industry.
Shares of cannabis company Tilray Brands (NASDAQ:TLRY)
fell 5.7% in the afternoon session after a recent rally in cannabis stocks, fueled by hopes of federal marijuana rescheduling in the U.S., reversed course.
Shares of ride sharing and on-demand delivery platform Uber (NYSE:UBER)
fell 3.2% in the afternoon session after the company, along with rival Lyft, signed off on a deal to allow its California ride-hail drivers to unionize.
Shares of cloud communications provider 8x8 (NASDAQ:EGHT) fell 2% in the afternoon session after a broader market selloff that particularly impacted technology stocks.
Shares of search AI platform provider Elastic (NYSE:ESTC) fell 3.6% in the afternoon session after it reversed sharp pre-market gains despite the company posting second-quarter results that beat analyst expectations. The search and AI platform provider reported revenue of $415.3 million, up 19.5% year-over-year, and an adjusted EPS of $0.60, both of which topped Wall Street's estimates. Following the strong results, the stock initially surged nearly 17% in after-hours trading. However, the gains were short-lived as investors focused on the company's mixed guidance. While Elastic raised its outlook for the full year, its earnings per share forecast for the upcoming third quarter missed analysts' expectations. This weaker near-term profit outlook appeared to overshadow the strong quarterly performance, prompting a sell-off during regular trading hours.
Shares of computer processor maker AMD (NASDAQ:AMD)
fell 3.1% in the morning session after stocks in the semiconductor sector pulled back triggered by a weak forecast from peer chipmaker Marvell Technology.
Shares of footwear company Crocs (NASDAQ:CROX)
jumped 0.3% in the morning session after the company announced the appointment of a new Chief Financial Officer and reaffirmed its third-quarter financial guidance.
Shares of solar power systems company SolarEdge (NASDAQ:SEDG)
fell 0.2% in the morning session after the stock hit a 52-week high of $34.49, capping an impressive run for the company.
Shares of cybersecurity AI platform provider SentinelOne (NYSE:S) jumped 4.5% in the morning session after the company reported second-quarter results that beat analyst expectations for profitability and recurring revenue.
Looking for the most active S&P500 stocks in today's session? Join us as we dive into the US markets on Friday and discover the stocks that are dominating the trading activity and setting the pace for the market.
The technology sector is currently navigating a complex landscape of pressures, leading to recent stock declines in key companies like NVIDIA (NASDAQ: NVDA), Marvell Technology (NASDAQ: MRVL), and Dell Technologies (NYSE: DELL). A primary factor is the intense competition and evolving market dynamics within the booming Artificial Intelligence (AI) sector.
Nvidia Corporation (NASDAQ: NVDA), the undisputed leader in artificial intelligence (AI) chip manufacturing, recently delivered a mixed bag with its second-quarter fiscal 2025 earnings report. While the company impressively surpassed overall revenue and profit expectations, a critical miss in its pivotal data center segment—the engine driving the current AI
Shares of cannabis company Tilray Brands (NASDAQ:TLRY)
jumped 5.5% in the afternoon session after the company announced the launch of three new EU-GMP certified medical cannabis strains in Germany.
Shares of packaged foods company B&G Foods (NYSE:BGS)
fell 1.9% in the afternoon session after a peer in the packaged foods industry, Hormel Foods, issued a disappointing profit outlook.
