Technology sector

Tech Sector Update 2/18/2022: LASR, VNT, APPN, INTC

JTech stocks retreated on Friday, with the SPDR Technology Select Sector ETF (XLK) dropping 1.3% while the Philadelphia semiconductor index fell 1.5% after Intel (INTC), at its meeting annual report on Thursday narrowly projected adjusted EPS for the year 2022 behind the analyst average of $3.51 per share. Intel shares were down 6.3% this afternoon.

In other company news, nLIGHT (LASR) fell nearly 18% after the specialty chipmaker reported fourth-quarter results Thursday evening lagging analyst estimates and also forecast revenue. Q1 in a range of $61 million to $67 million, lagging Capital IQ’s consensus expectation of $69.8 million in revenue. for the three months ending March 31.

Vontier (VNT) rose 0.5%, reversing a recent decline that followed the technical components and software company on Thursday evening, reported fourth-quarter non-GAAP net income of $0.83 per share, from $0.87 per share in the year-ago period, while net sales fell 30.4% year-over-year to $790.2 million, trailing 815 .5 million from Street View.

Appian (APPN) climbed more than 13% after the automation technology company reported fourth-quarter results that beat Wall Street estimates and also forecast first-quarter and fiscal 22 results topping expectations. analysts’ expectations. Excluding one-time items, Appian’s net loss was $0.16 per share on $105 million in revenue versus Capital IQ’s consensus which was looking for an adjusted loss of $0.23 per share on $95.3 million. dollars of revenue in the fourth quarter.

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