Technology sector

Tech Sector Update 01/19/2022: PRGS,OPRA,TTWO,DOX,VOD

JTech stocks fell this afternoon, with the SPDR Technology Select Sector ETF (XLK) on Wednesday down 0.8% while the Philadelphia semiconductor index fell 2.5% this afternoon.

In corporate news, Progress Software (PRGS) fell 5.2% after the enterprise software company forecast non-GAAP earnings and revenue for its current Q1 ending next month and its fiscal 22 ending in November, lagging Wall Street expectations. Progress sees first-quarter net income in the range of $0.83 to $0.85 per share, excluding one-time items, on revenue of between $139 million and $142 million. The street is at $0.96 per share and $143.8 million, respectively.

On the upside, Amdocs (DOX) rose nearly 1% this afternoon, overcoming early weakness, after it said Vodafone’s (VOD) telecom subsidiary in Turkey picked the software services company to adjust and automate its testing processes over the next three years. Financial terms were not disclosed.

Take-Two Interactive Software (TTWO) added 6.2% after BNP Paribas Exane raised its investment recommendation for the interactive entertainment and games company to outperform neutral and also raised its price target to per share from $25 to $215 per share.

Opera (OPRA) soared more than 11% after launching the beta version of its Crypto Browser on Wednesday, which includes an integrated non-custodial wallet with its web browser, giving users “direct and frictionless access to Web3 services” . The crypto wallet also supports fungible ERC-20 and non-fungible standards.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.