JTech stocks were struggling on Friday, with the SPDR Technology Select Sector ETF (XLK) down 2.2% while the Philadelphia Semiconductor Index lost 3.2% this afternoon.
In company news, C3.ai (AI) fell nearly 15% after Deutsche Bank downgraded its shares for the artificial intelligence software company to sell on hold and cut by half his price target for C3.ai shares at $18 each.
Vizio (VZIO) fell on Friday, recently dropping 22% to a new record high of $10.36 per share, after the “smart” TV producer reported a 14.4% drop in fourth-quarter revenue from year-ago levels, falling to $628.8 million and missing the Capital IQ consensus expects $695.9 million in revenue in the three months ended Dec. 31.
On the upside, Duolingo (DUOL) climbed 4.7% after reporting better-than-expected fourth-quarter results, including a 51% increase in revenue over year-ago levels. The language-learning software company forecast first-quarter and fiscal 22 revenue above Wall Street forecasts.
PowerSchool Holdings (PWSC) rose nearly 11% after the K-12 educational software company surprised Wall Street by earning $0.14 per share in the three months ended Dec. 31, excluding items punctual. PowerSchool’s fourth-quarter revenue beat consensus estimates and the company guided first-quarter and fiscal 22 revenue above street views.
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