Technology sector

Tech Sector Update for 12/7/2022: RPD, NOW, TBLA, GTN, ACLS

JTech stocks added to their midday slump, with the SPDR Technology Select Sector ETF (XLK) down 1.7% on Tuesday and the Philadelphia Semiconductor Index down 0.3% this afternoon. .

In company news, Rapid7 (RPD) fell 7% after Barclays on Tuesday cut its price target for the cybersecurity and analytics company from $18 to $92 per share and reiterated its overweight rating. for action.

ServiceNow (NOW) fell nearly 13% after a regulatory filing on Tuesday showed Chief Financial Officer Gina Mastantuono late last week selling 758 shares of the enterprise cloud company to 494 $.15 each, with proceeds from the stock sale of nearly $375,000 expected to cover his federal and state stocks. withholding tax obligations that followed the acquisition of 1,528 restricted shares on July 8.

Among the winners, Taboola.com (TBLA) added 2.9% after the mobile apps company on Tuesday announced a new five-year licensing agreement allowing Gray Television (GTN) to use its Taboola feed to provide readers of news and entertainment content on its digital properties.

Axcelis Technologies (ACLS) rose 2.9% after the semiconductor equipment company said on Tuesday it expected to beat its financial guidance for the second quarter by seeking earnings of $1.00 per share for the June quarter on revenues between $205 million and $215 million. Analysts polled by Capital IQ on average expected Axcelis to earn $1.00 per share on $209.9 million in revenue in the second quarter.

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