Technology Sector Update for 06/17/2022: JG, MMAT, ADBE, XLK, SOXX

Technology stocks were gaining premarket Friday with the Technology Select Sector SPDR ETF (XLK) 0.62% higher and the Semiconductor Sector Index Fund (SOXX) was recently up 0.68%.

Aurora Mobile (JG) was rallying past 10% after saying it has secured special support funding totaling 15 million renminbi ($2.2 million) from China’s Shenzhen Development and Reform Commission as part of the Strategic Emerging Industries Development Program.

Meta Materials (MMAT) was almost 2% higher after saying it agreed to acquire substantially all of the assets of and intellectual property of Optodot for $48.5 million.

Adobe (ADBE) reported fiscal Q2 adjusted earnings of $3.35 per diluted share, up from $3.03 a year earlier. Analysts polled by Capital IQ projected $3.31. Adobe was recently declining by more than 5%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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