Last Price$78.32NASDAQ Previous Close - Last Trade as of 4:00PM ET 8/13/20

Today's Change-0.45(0.57%)
Bid (Size)$79.00 (3)
Ask (Size)$82.00 (3)
Day Low / High$77.78 - 79.16
Volume108.1 K

Sector Update: Tech Stocks Struggle as Chipmakers Weigh on Sector

1:52PM ET 4/23/2020 MT Newswires
Technology stocks were drifting lower in recent trade, with the SPDR Technology Select Sector ETF down about 0.2% and the Philadelphia Semiconductor Index off more than 0.5%.

In company news, Plexus (PLXS) rose 4.7% after the contract electronics manufacturer late Wednesday reported non-GAAP net income of $0.61 per share on $767.4 million in revenue for its fiscal Q2 ended April 4. Analysts, on average, had been projecting adjusted earnings of $0.56 per share and $741.22 million in Q2 revenue.

CounterPath (CPAH) was nearly 29% higher, easing from a 104% gain earlier Thursday that followed the Canadian software firm saying it seen increased demand from customers forced to work remotely during the ongoing COVID-19 pandemic and projecting 26% to 40% year-over-year revenue growth for its fiscal Q4 ending April 30. Analyst estimates were not available.

Seagate Technology (STX) dropped 2.8% after RBC Capital Markets cut its price target for the computer components company by 10% to $54, citing disappointing Q1 results overnight for its legacy business, while Mizuho trimmed its price target for Seagate by $4 to $56 a share. Wedbush Thursday also lowered its price target for the company's shares by $2 to $49 each.

Price: 59.37, Change: +2.90, Percent Change: +5.13