Sector Update: Chipmakers Keeping Tech Stocks Near Even in Recent Trade

Friday, November 20, 2020 1:19 PM | MT Newswires

Technology stocks were little changed this afternoon, with the SPDR Technology Select Sector ETF falling 0.1% while the Philadelphia Semiconductor Index was rising 0.7% this afternoon.

In company news, Nano Dimension (NNDM) dropped almost 24% after the electronics manufacturer priced a $100 million direct offering of 25 million American depositary shares at $4.00 apiece, representing a nearly 32% discount to Thursday's closing price. Net proceeds will be used for working capital and other general corporate purposes, including potential business combinations or other strategic opportunities.

Workday (WDAY) slid 8% despite the software firm late Thursday reporting better-than-expected Q3 financial results and also raising its FY21 subscription revenue forecast. Excluding one-time items, it earned $0.86 per share on $1.09 billion in revenue, topping the Capital IQ consensus expecting a $0.67 per share adjusted profit on $1.09 billion in revenue.

McAfee (MCFE) fell 2% after the cyber-security company said it earned $0.00 per share during its Q3 ended Sept. 26, improving on a $0.02 per share net loss during the same quarter last year but still lagging the Capital IQ consensus expecting an $0.08 per share profit.

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