Sector Update: Tech Stocks Advance Pre-Bell Thursday

Last Updated: Thursday, December 8, 2022 9:00 AM | MT Newswires

Technology stocks were advancing pre-bell Thursday. The Technology Select Sector SPDR ETF (XLK) was up 0.92% and the Semiconductor Sector Index Fund (SOXX) was 0.78% higher recently.

Ciena (CIEN) was gaining over 17% in value even as it reported fiscal Q4 adjusted net income of $0.61 per diluted share, down from $0.85 a year earlier. Analysts polled by Capital IQ forecast $0.07.

Hello Group (MOMO) reported Q3 adjusted earnings of 2.60 renminbi ($0.37) per diluted American depositary share, down from 2.70 renminbi per ADS a year earlier. Analysts polled by Capital IQ expected adjusted earnings of 2.08 renminbi. Hello Group was recently climbing past 15%.

HashiCorp (HCP) was up more than 8% after posting a Q3 non-GAAP loss of $0.13 per share, narrower than a loss of $0.31 a year earlier. Analysts polled by Capital IQ expected a loss of $0.31 per share.

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