Tech stocks were lower late Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) decreasing 1.4% and the Philadelphia Semiconductor Index shedding 1.6%.

In corporate news, Meta Platforms (META) shares dropped 1.7% after Chief Executive Mark Zuckerberg disclosed the sale of some of his shares.

Intel (INTC) has partially won an appeal to overturn a jury’s verdict in the patent infringement case filed by VLSI Technology, with the US Court of Appeals for the Federal Circuit reversing the judgment of infringement of one patent and affirming the infringement of a second patent. Intel shares were falling 3.4%.

Spotify (SPOT) shares gained around 7% after Chief Executive Daniel Ek said the company is cutting about 17% of its workforce.

Virgin Galactic (SPCE) founder Richard Branson said he won’t commit to more investment into the unprofitable space tourism startup, the Financial Times reported Saturday. The company’s shares slumped almost 18%.

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

Original: META Feed: Technology Sector Update for 12/04/2023: META, INTC, SPOT, SPCE