Sector Update: Tech Stocks Gain Pre-Bell Thursday

Last Updated: Thursday, August 18, 2022 9:14 AM | MT Newswires

Technology stocks were gaining pre-bell Thursday. The Technology Select Sector SPDR ETF (XLK) was up 0.08%, and the Semiconductor Sector Index Fund (SOXX) was 0.19% higher recently.

Cisco Systems (CSCO) reported fiscal Q4 non-GAAP diluted earnings of $0.83 per share, down from $0.84 a year earlier. Analysts polled by Capital IQ expected $0.82. Cisco Systems was recently climbing past 5%.

NetEase (NTES) was more than 3% higher after it posted Q2 adjusted earnings of 8.18 renminbi ($1.22) per diluted American depositary share, up from 6.24 renminbi last year. Analysts polled by Capital IQ projected normalized earnings of 7.10 renminbi.

NICE (NICE) was advancing by more than 3% after it reported Q2 non-GAAP EPS of $1.86, up from $1.57 a year earlier. Analysts polled by Capital IQ expected $1.79.

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