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Technology stocks were edging higher premarket Friday. The Technology Select Sector SPDR Fund (XLK) was up 0.25% and the iShares Semiconductor ETF (SOXX) was recently climbing by 0.85%.
Netflix (NFLX) reported Q4 earnings of $0.12 per diluted share, down from $1.33 a year earlier. Analysts polled by Capital IQ forecast earnings of $0.48 a share. Netflix was recently advancing by over 6%.
Alphabet (GOOG, GOOGL) said it was cutting about 12,000 jobs, or 6% of its workforce, according to an internal memo. In a note to staffers, the company’s CEO Sundar Pichai said the workforce was increased “for a different economic reality than the one we face today.” Alphabet was up more than 2.5% recently.
Ericsson (ERIC) shares were slipping more than 4% after it reported Q4 earnings of 1.82 Swedish kronor ($0.12) per diluted share, down from 3.02 kronor a year ago. Analysts polled by Capital IQ expected EPS of 1.98 kronor.
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