Sector Update: Tech

Last Updated: Thursday, May 26, 2022 3:36 PM | MT Newswires

Technology stocks were advancing on Thursday, with the SPDR Technology Select Sector ETF (XLK) rising 2.2% while the Philadelphia Semiconductor Index was gaining 3.7% this afternoon. In company news, ViaSat (VSAT) dropped over 10% after the internet connectivity company missed analyst estimates with its fiscal Q4 earnings and revenue, reporting an adjusted profit of $0.06 per share, down from $0.36 per share during the year-ago quarter and trailing the Capital IQ consensus also looking for net income of $0.36 per share, excluding one-time items.

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