Technology stocks succumbed to downward pressure this afternoon, with the SPDR Technology Select Sector ETF (XLK) Thursday falling 0.8% and the Philadelphia Semiconductor Index down 4.7% in late trading.
In company news, Qualtrics (XM) rose 5.4% after the customer relationship management software firm reported a 48% year-over-year increase in Q4 revenue to $ 316 million and led the Capital IQ consensus expecting $ 297.7 million for the last three months of 2021 It also sees Q1 revenue in the range of $ 324 million to $ 326 million, which also exceeds the analyst’s $ 314.7 million average.
Virgin Orbit (VORB) remained for 2% gain after Thursday to say it was selected to provide launch services for NASA’s venture-class acquisition of dedicated rideshare missions. The five -year contract from the U.S. space agency has a maximum total value of $ 300 million, the company said.
ServiceNow (NOW) added 9.5% after the cloud-computing company reported overnight Q4 net revenue of $ 1.46 per share, up from $ 1.17 per share last quarter, while revenue rose 28.8% to $ 1.61 billion . Street is at $ 1.43 per share and $ 1.605 billion, respectively.
Seagate Technology (STX) jumped 7% higher after the data storage equipment company overnight reported non-GAAP net income of $ 2.41 per share for its fiscal Q2, growing to a $ 1.29 per share which adjusted earnings in the same quarter in 2020 and led the Capital IQ consensus of $ 0.05 per share. Revenue rose 19.1% to $ 3.12 billion, meeting market expectations.