Last Price$31.11NYSE Previous Close - Last Trade as of 7:00PM ET 6/30/22

Today's Change+0.01(0.03%)
Bid (Size)$28.97 (30)
Ask (Size)$42.00 (4)
Day Low / High$29.95 - 31.16
Volume1.5 M

Sector Update: Tech Stocks Overcome Early Uncertainty, Leading Broader Markets Higher

1:06PM ET 4/27/2022 MT Newswires
Technology stocks were advancing on Wednesday, with the SPDR Technology Select Sector ETF (XLK) rising 3.2% and the Philadelphia Semiconductor Index gaining 0.7% this afternoon.

In company news, Vertiv Holdings (VRT) rose over 11% after the networking equipment company reported a non-GAAP net loss of $0.08 per share, reversing a $0.21 per share adjusted profit during the first three months of 2021 but still exceeding the Capital IQ consensus expecting a $0.16 per share loss, excluding one-time items. Net sales increased 5.5% year-over-year to $1.16 billion compared with the $1.14 billion analyst mean.

Alphabet (GOOG, GOOGL) slid 2.4% after the Google parent company late Tuesday missed Wall Street expectations with its Q1 earnings, prompting several analysts to pare their respective investment ratings or price targets for the company's stock. Net income fell to $24.62 per share during the three months ended March 31, down from $26.29 per share a year ago and lagging the Capital IQ consensus looking for $25.54 per share.

NCR (NCR) tumbled over 22% after the ATM manufacturer missed analyst estimates with its Q1 net income despite a % revenue increase and the company also reducing its FY22 guidance well below Wall Street expectations. NCR earned $0.33 per share during the three months ended March 31, down from $0.51 per share during year-ago period and trailing the Capital IQ consensus by $0.12 per share.