Technology sector

Tech Sector Update 06/05/2022: NLOK,UI,TDC

JTech stocks were still down, with the SPDR Technology Select Sector ETF (XLK) down 0.7% and the Philadelphia Semiconductor Index down 0.6% this afternoon.

In corporate news, NortonLifeLock (NLOK) climbed 2.5% after the cybersecurity firm reported non-GAAP net income of $0.46 per share for its fourth fiscal quarter ended April 1. , up from $0.40 per share a year earlier and beating the Capital IQ consensus by $0.01 per share. share. Net revenue rose 6.5% to $716 million, also topping Street View’s $709.6 million.

Teradata (TDC) fell 10% after the data analytics firm cut its non-GAAP net profit forecast for FY22 to a new range of $1.55 and $1.65 per share , down $0.27 per share from its previous guidance and lagging the Capital IQ consensus that it expected to earn $1.89 per share this year, excluding one-time items. The company also expects Q2 adjusted earnings to be between $0.26 and $0.30 per share, compared to analysts’ average of $0.52 per share.

Ubiquiti (UI) fell nearly 16% after the network technology company reported non-GAAP net income of $0.83 per share for its fiscal third quarter ended March 31, from $2.30 per share in the same quarter last year and behind the single analyst call $1.79 per share. Revenue fell 23.4% year over year to $358.1 million, also missing the street view of $472 million.

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