Technology Sector Update for 04/18/2022: CASA, VZ, TWTR, TSLA, DIDI, XLK, SOXX

Ttechnology stocks were declining premarket Monday. The Technology Select Sector SPDR ETF (XLK) was down 0.35%, and the Semiconductor Sector Index Fund (SOXX) was 0.45% lower recently.

Casa Systems (CASA) was rallying past 47% after saying Verizon Communications (VZ) has acquired a 9.9% stake in the communications equipment company for approximately $40 million.

Twitter (TWTR) was up more than 3% after saying its board has adopted a limited-duration rights plan after receiving an “unsolicited, non-binding” proposal to be acquired by shareholder and Tesla (TSLA) CEO Elon Musk. The rights plan is exercisable if an entity, person or group acquires at least 15% of Twitter’s outstanding shares without prior approval of the board, the social media platform said.

DiDi Global (DIDI) reported a Q4 loss of 0.08 renminbi ($0.01) per American depositary share, narrowing from a 16.66 renminbi loss a year earlier. One analyst polled by Capital IQ expected a loss of 0.05 renminbi per share. DiDi was recently down more than 18%.

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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