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Stock Alert: KLA Corp. Down 5%

(RTTNews) – Shares of KLA Corp. (KLAC) are losing more than 5 percent or $9.51 in Friday’s morning trade at $166.39 despite no stock-specific news. The stock has traded in a range of $101.34 to $184.50 in the past 52 weeks.

U.S. stocks are lower on Friday after a report from the Commerce Department showed retail sales plunged by even more than expected in the month of April.

Milpitas, California-based KLA Corp. manufactures process control and yield management solutions for the semiconductor and related nanoelectronics industries. Concerns about rising tensions between the U.S. and China also weighed on stocks after the Trump administration moved to block shipments of semiconductors to Chinese telecom giant Huawei Technologies.

Hu Xijin, editor-in-chief of China’s state-run Global Times, suggested China could retaliate against U.S. companies such as Qualcomm (QCOM), Cisco Systems (CSCO), Apple (AAPL), and Boeing (BA). Shares of semiconductor makers are lower following the news.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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