Tech stocks saw gains, with some individual companies facing legal issues or cyberattacks

From NASDAQ: 2024-06-17 15:55:16

Tech stocks saw gains on Monday, with XLK up 1.8% and XSD up 0.6%. The Philadelphia Semiconductor index also rose 1.7%. Autodesk faces a lawsuit from shareholder Starboard Value over alleged accounting issues, causing shares to jump 6.8%.

Hackers are demanding payments from companies breached in a cyberattack on Snowflake customers. Bloomberg reports payments range from $300,000 to $5 million. Adobe is sued by the FTC for hiding early cancellation fees, leading to a 0.9% drop in shares. The US Supreme Court grants Nvidia’s petition for a review of a shareholder lawsuit and announces the launch of Omniverse Cloud Sensor RTX microservices, causing shares to edge down 0.1%.



Read more at NASDAQ: Technology Sector Update for 06/17/2024: ADSK, SNOW, ADBE, NVDA