Shares of technology companies rose as earnings continued to come in strong.
GlobalFoundries shares rallied by more than 10% after the maker of specialty chips used in cars and other applications logged quarterly revenue ahead of the mean analyst estimate.
Cisco Systems rose in late trading after the network gear maker logged higher revenue in its fiscal second quarter, helped by demand from AI hyperscalers.
Meta Platforms shares were more or less flat after Bill Ackman's Pershing Square revealed a new stake in the Facebook owner that could be worth as much as $2 billion. Meta's recent earnings report stirred sentiment that the digital-advertising powerhouse had figured out one of the most lucrative ways to "monetize" artificial intelligence.
Shopify shares fell sharply as the maker of online store technology said it would continue investment in AI capabilities, weighing on its profit margin outlook.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
02-11-26 1734ET
