Chip and Engineering Stocks Rise While Tech and Solar Slip on Valuation Concerns
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Intel shares rose after announcing plans to IPO its programmable chip unit within 2-3 years.
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Fluor stock climbed following an upgrade to buy from UBS, which is bullish on the company.
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Apple shares dipped after KeyBanc downgraded it to sector weight due to high valuation and expected soft US growth.
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Sunrun and Sunnova shares dropped after downgrades to hold from Truist Securities, citing higher interest rates hitting solar stocks.
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Moderna gained slightly after reporting positive interim results for its mRNA influenza and Covid combination vaccine trial.
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