Shares of technology companies rose as momentum in the sector continued to build.

Autodesk shares rose after The Wall Street Journal reported that Starboard Value took a roughly $500 million stake in the design-software maker and is pushing for changes.

Rival Adobe shares fell after the Federal Trade Commission accused it of hiding subscription cancellation fees from customers.

Broadcom shares rose after the maker of chips and semiconductor-related software continued to ride the momentum of a chip stock craze. Apple shares rose 2% and is now up roughly 15% for the month of June.

"It's up more month to date than year to date, as a result of revealing last week their foray into artificial intelligence," said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management. "It's another example of the importance of AI."

Write to Rob Curran at

(END) Dow Jones Newswires

06-17-24 1709ET