Technology sector

Tech Sector Update 3/29/2022: INTC,SSYS,LMT,QUMU,ESLT

JTech stocks jumped late in Tuesday’s trading, with the SPDR Technology Select Sector ETF (XLK) up 2.1% and the Philadelphia Semiconductor Index up 2.3% this afternoon. .

In corporate news, Intel (INTC) was getting a late boost, up 1.3%, amid a broader market rally and the chipmaker also this afternoon announced its plans to build an artificial intelligence incubator lab at Chandler Gilbert Community College near Phoenix, Arizona. The new lab will offer an associate’s degree program, with the company saying it wants to make the program available in all 50 U.S. states by 2023.

Stratasys (SSYS) increased by 7.4 MT) and Metropolitan State University of Denver to generate qualification data for the company’s Antero 840CN03 thermoplastic composite material and enable industrial partners to produce space and aerospace parts at the using Stratasys FDM 3D printers. Lockheed Martin shares were down 1.8% this afternoon.

Qumu (QUMU) climbed 6% after the software company announced it was becoming an authorized reseller of LiveU video streaming technology, adding to its existing portfolio of video storage, distribution and analytics tools for business customers. Financial terms of the new partnership were not disclosed.

Among the decliners, Elbit Systems (ESLT) slid 8.1% after the Israeli security and defense contractor on Tuesday reported non-GAAP fourth-quarter net profit of $2.14 per share, down from 2 $.38 per share in the same quarter of 2020 and lagging Capital IQ which expects $2.32. adjusted earnings per share for the three months ended December 31.

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