Technology sector

Technology Sector Update 10/03/2022: CLVT,ASAN,IDN,CRWD

JTech stocks ended above their intraday lows, with the SPDR Technology Select Sector ETF (XLK) down 1.9% while the Philadelphia semiconductor index slid 2.2% this post- midday.

In company news, Clarivate (CLVT) soared nearly 13% after it released FY22 earnings and revenue guidance, with the company saying it expects results from this year will be significantly boosted by the acquisition of software, content and data analytics company ProQuest.

CrowdStrike Holdings (CRWD) rose more than 13% after the cybersecurity company reported fourth quarter results that beat Wall Street expectations and expected Q1 and FY23 earnings and revenue also fell. exceeded analysts’ estimates. It earned $0.30 per share in the three months ended Jan. 31, more than doubling its earnings of $0.13 per share in the year-ago quarter, while revenue rose 62, 7% year over year to $431 million. Analysts on average had expected $0.20 per share and $412.4 million, respectively.

Among the decliners, Intellicheck (IDN) fell nearly 19% after the digital identity verification company reported a net loss of $0.07 per share in the fourth quarter on Wednesday evening, reversing its profit from 0.07 $ per share over the year-ago period and lagging the Capital IQ consensus looking for a loss of $0.06 per share for the three months ended Dec. 31.

Asana (ASAN) fell more than 22% after the workplace software company forecast a larger non-GAAP net loss for its current first quarter ending April 30 than analysts expected. Excluding one-time items, the company expects a first-quarter net loss of between $0.36 and $0.35 per share, compared to the Capital IQ consensus that is looking for a normalized loss of $0.27 per share.

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