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Technology stocks stayed under pressure late Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) falling 1.1% and the Philadelphia Semiconductor Index losing 2.0%.
In company news, CI&T (CINT) gained about 2.5% after the company was designated a Microsoft Solution Partner for Azure’s Data & AI and Digital & App Innovation.
Kyndryl Holdings (KD) was rising above 20% after it posted a narrower-than-expected fiscal Q3 loss of $0.47 per share in the previous day, compared with a loss of $3.26 per share a year earlier. Three analysts polled by Capital IQ expected a loss of $0.81 per share.
New Relic (NEWR) added over 18% after delivering forecast-beating Q3 performance that led to a slew of price target increases from analysts.
Fortinet (FTNT) was rising over 10% after it reported a Q4 non-GAAP net income of $0.44 per share, up from $0.25 per share a year earlier. Analysts polled by Capital IQ expected $0.39.
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