Shares of technology companies rose as momentum traders continued to chase gains in the sector.
Taiwanese firm Foxconn Technology ended a partnership to make chips for Indian conglomerate Vedanta, a setback to India’s nascent plans to become a semiconductor manufacturing hub.
Fisker shares rose after the electric-car maker scheduled a sale of convertible bonds in an effort to raise $300 million in capital.
German electro and digital industry association ZVEI estimated that May’s incoming orders for the sector fell a nominal 6.5% on the year, the third straight month of decreases.
Leveraged buyout firm TPG is acquiring a business unit of software provider Forcepoint for $2.45 billion, a price tag that is more than double what technology-focused private-equity firm Francisco Partners paid for Forcepoint in 2021.
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