Technology sector

Tech Sector Update 9/3/2022: PBTS,BMBL,MDB,BZ

JTech stocks added to Wednesday’s advance, with the SPDR Technology Select Sector ETF (XLK) up 3.9% while the Philadelphia semiconductor index gained 4.2% this afternoon.

In corporate news, Powerbridge Technologies (PBTS) gained more than 11% after the software company said it was awarded a series of contracts totaling around $5 million to provide digital transformation services.

Bumble (BMBL) rebounded on Wednesday, rising nearly 42% after the dating app and social media company reported a 25.7% year-over-year increase in fourth-quarter revenue, reaching $208.2 million in the three months ended Dec. 31, and projecting FY22 revenue in the range of $934 million to $944 million. The street is at $937.6 million.

MongoDB (MDB) rose nearly 19% after the database company reported better-than-consensus results for its fourth fiscal quarter ended Jan. 31 and forecast a lower net loss for the first and second quarters. fiscal year 23 analysts expect, as well as revenue for the current quarter and this year as well. exceeding Wall Street projections.

Kanzhun (BZ) gained more than 13% after the Chinese online recruitment firm on Wednesday cleared the buyback of up to $150 million of its U.S. depository shares over the next 12 months.

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