JTech stocks moved back into positive territory on Thursday evening, with the SPDR Technology Select Sector ETF (XLK) up 0.9% while the Philadelphia semiconductor index climbed 1.8% this afternoon.
In company news, Squarespace (SQSP) fell 8.8% in afternoon trading after online content management company JMP Securities downgraded to make the market outperform the market. market.
Ericsson (ERIC) fell 9.1% after the mobile phone maker on Thursday reported net profit of 1.35 crowns ($0.13) per share in the second quarter, from 1.10 crowns per share during from the same quarter last year, but still lagging the Capital IQ consensus looking for a crown of 1.68. earnings per share.
Sprout Social (SPT) fell more than 7% after Morgan Stanley on Thursday lowered its price target for the social media management company from $4 to $66 per share and reiterated its equal weight rating for the stock. .
On the upside, Taiwan Semiconductor Manufacturing (TSM) gained 2.9 after the chipmaker reported second-quarter net profit of 9.14 New Taiwan dollars ($0.31) per share, improving a profit of 5 $.18 per share last year and beating Capital IQ’s consensus expectation of $8.53 per share. to share. Revenue grew 43.5% year-over-year to 534.14 billion New Taiwan dollars, also topping Street View’s 524.18 billion.
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