Financial Wire

Sector Update: Tech

-- Tech stocks were higher late Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.4% and the State Street SPDR S&P Semiconductor ETF (XSD) up 0.5%.

The Philadelphia Semiconductor index decreased 0.2%.

In corporate news, Alphabet (GOOGL) is poised for a 12-figure windfall from its early investment in SpaceX, Bloomberg reported, citing a filing. At the end of 2025, Google LLC owned a 6.11% stake in SpaceX, the report said, citing a SpaceX filing in Alaska. At a $2 trillion valuation, which SpaceX hopes to top in its initial public offering, the holding would be worth $122 billion, the report said. Alphabet shares rose 0.9%.

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Shares of Hybe (KRX:352820) fell nearly 3% to 2,48,000 won in Tuesday morning trade after the Seoul Metropolitan Police Agency sought to arrest the entertainment giant's founder Bang Si-hyuk on charges of misleading early investors before the company's initial public offering in 2020.Bang has also been accused of concealing profit-sharing arrangements tied to a private equity fund, Bloomberg reported Tuesday.Authorities suspect Bang made about 190 billion won in illicit gains. Bang denies any wrongdoing, according to the report.The probe, referred to by the Financial Services Commission last year, has raised concerns related to governance, it said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Eswin Materials Tech's 2025 Loss Widens; Shares Down 4%

Xi'an Eswin Materials Technology's (SHA:688783) net loss attributable to shareholders in 2025 slightly widened year on year to 738.2 million yuan, or 0.21 yuan per share, according to the company's annual report published Tuesday on the Shanghai bourse.The attributable loss a year earlier was 737.6 million yuan, while earnings per share were unchanged from 0.21 yuan a year earlier.Operating revenue climbed 25% to 2.65 billion yuan from 2.12 billion yuan in the previous year.The Chinese semiconductor company's shares dropped 4% during the morning trade.

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ISOTeam Secures Contract Worth SG$30 Million; Shares Up 4%

ISOTeam (SGX:5WF) secured SG$30 million worth of contracts, according to a Monday filing with the Singapore Exchange.Shares of the facilities maintenance company were up nearly 4% in Tuesday trading.The contracts include a SG$8.3 million coating and painting projects contract, addition and alteration projects worth SG$6.8 million, repair and redecoration contracts worth SG$5.1 million, electrical work projects worth SG$4.8 million and landscaping projects worth SG$1.4 million.Following the award, the company's current order book stands at around SG$186.5 million.

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Sector Update: Tech | Financial Wire