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Technology stocks returned to positive ground Tuesday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 0.6% and the Philadelphia Semiconductor Index gaining 1.4%.
In company news, Gogo (GOGO) rose nearly 17% after the airborne connectivity company reported Q4 net income of $0.21 per share on $108.2 million in revenue, beating the Capital IQ consensus calls expecting $0.15 per share and $107.2 million in revenue.
Wejo Group (WEJO) gained nearly 0.9% after the software firm expanded its collaboration agreement with Mercedes-Benz Connectivity Services to provide personalized connected data services for selected Mercedes-Benz fleet vehicles in the European Union. Financial terms were not disclosed.
Thoughtworks Holding (TWKS) dropped over 19% after reporting adjusted Q4 net income of $0.10 per share, topping the Capital IQ consensus call expecting no change from its adjusted profit of $0.09 per share during the same quarter in 2021. The technology consultants guided its Q1 results below analyst estimates.
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