Sector Update: Tech

Last Updated: Monday, May 16, 2022 3:47 PM | MT Newswires

Technology stocks faded slightly this afternoon, with the SPDR Technology Select Sector ETF (XLK) falling 0.8% and the Philadelphia Semiconductor Index sliding 1.4% this afternoon. In company news, Data Storage (DTST) was nearly 45% higher late in Monday trading after the data protection and recovery company Monday reported a surprise Q1 profit of $0.02 per share, reversing a $0.01 per share loss during the same quarter last year and beating the single-analyst call also expecting a $0.01 per share loss for the three months ended March 31.

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