Technology sector

Technology Sector Update 3/31/2022: PATH, BIDU, HPQ

JTech stocks were down on Thursday, with the SPDR Technology Select Sector ETF (XLK) down 0.6% while the Philadelphia semiconductor index slid 1.3% this afternoon.

In company news, UiPath (PATH) retreated on Thursday, recently dropping more than 29% to an all-time low of $20.53 per share after the automation and robotics software company projected earnings. the first quarter and fiscal year 23 below Wall Street expectations, notably between 223 and 225 million dollars. for its current fiscal T1 ending April 30. The street is at $246.8 million.

Baidu (BIDU) fell 7.1% after the Chinese search engine company was included on Wednesday by the U.S. Securities and Exchange Commission on a list of foreign companies at risk of delisting from U.S. stock markets in under provisions of federal law extending US financial reporting and disclosure requirements to foreign companies. Baidu said it was actively exploring possible ways to comply with foreign corporate liability law and retain its listings on the Nasdaq Global Select and Hong Kong stock exchanges.

HP (HPQ) was 5.7% lower. The computer maker on Thursday announced a new strategic collaboration with Italian group Legor to develop precious metal materials for its Metal Jet System, starting with the production of functional stainless steel accessories for the jewelry and jewelry markets. the fashion.

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