Sector Update: Tech

Last Updated: Wednesday, August 17, 2022 3:40 PM | MT Newswires

Technology stocks trimmed some of their midday losses on Wednesday, with the SPDR Technology Select Sector ETF (XLK) falling 0.6% and the Philadelphia Semiconductor Index still falling 2.3% this afternoon. In company news, Rada Electronic Industries (RADA) was 2.9% lower late in Wednesday trading after the defense technologies company reported a surprise Q2 net loss of $0.09 per share, reversing a $0.20 per share profit during the year-ago period and missing the Capital IQ consensus looking for GAAP and adjusted earnings of $0.02 per share.

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