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Technology stocks were advancing on Friday, reversing a morning retreat that followed Intel (INTC) reporting weak Q4 earnings and the chipmaker warning of a likely net loss for the current quarter. At last look, the Technology Select Sector SPDR Fund (XLK) was rising 0.5% although the Philadelphia Semiconductor Index still was sliding 0.1% this afternoon.
In company news, Applied UV (AUVI) climbed almost 54% after the catalytic air purification company said it retained the Herrick, Feinstein law firm to “aggressively” investigate alleged illegal short selling of its stock. The Herrick, Feinstein attorneys are expected to determine whether certain market participants have engaged in illegal short-selling practices and adversely affected the market integrity of Applied UV stock, the company said on Friday.
L3Harris Technologies (LHX) added 8.1% after the aerospace and defense contractor said its Q4 revenue rose to $4.58 billion from $4.35 billion during the year-ago quarter and beating the Capital IQ consensus call expecting $4.36 billion in Q4 revenue.
AppFolio (APPF) fell 7.9% after the software development platform company said its adjusted Q4 net loss widened to $0.05 per share compared with its $0.01 per share adjusted loss during the year-ago period although that still beat the Capital IQ consensus looking for a $0.13 per share loss.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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