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Technology stocks were mixed pre-bell Wednesday. The Technology Select Sector SPDR Fund (XLK) was down less than 0.1% and the iShares Semiconductor ETF (SOXX) gained 0.3%.
Snap (SNAP) was slipping past 12% after it reported non-GAAP Q4 net income of $0.14 per share, down from a $0.22 a year earlier. Snap said internal forecasts are projecting a 10% to 2% decline in Q1 revenue compared with fiscal 2022 levels.
Electronic Arts (EA) reported fiscal Q3 earnings of $0.73 per diluted share, up from $0.23 a year earlier. Analysts polled by Capital IQ forecast $0.50. Separately, Electronic Arts subsidiary Respawn Entertainment said it is shutting down the Apex Legends mobile game in all regions, effective May 1, after falling short of its bar for quality. Electronic Arts was down nearly 9% recently.
Dynatrace (DT) was gaining over 10% in value after it reported fiscal Q3 non-GAAP earnings of $0.25 per diluted share, up from $0.18 a year earlier. Analysts polled by Capital IQ expected $0.21.
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