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Technology stocks were extending their Friday advance, with the Technology Select Sector SPDR Fund (XLK) rising 2% while the Philadelphia Semiconductor Index was gaining 1.4% in afternoon trading.
In company news, Verisk Analytics (VRSK) shares gained 3% after the data analytics firm Friday priced a $500 million offering of 5.750% senior notes due 2033.
Elastic (ESTC) shares added more than 9% after the search technology company reported a non-GAAP Q3 profit of $0.17 per share, reversing a year-ago net loss as revenue increased 23% year-over-year and blowing past the analyst consensus looking for adjusted net income of $0.05 per share for the three months ended Jan. 31. Revenue increased over year-ago levels and it also raised its forecast for fiscal 2023 earnings above Wall Street views.
Samsara (IOT) shares rose past 15% after more than halving its adjusted net loss for its Q4 ended Jan. 28 as total revenue grew to $186.6 million from $125.8 million year-over-year, topping Wall Street expectations on both its top and bottom lines. The connected-cloud software firm also guided for a smaller net loss and more revenue for fiscal 2024 than analysts forecast.
C3.ai (AI) raced to a more than 33% advance after the enterprise artificial-intelligence software firm reported fiscal Q3 results beating analyst estimates and also forecast Q4 revenue above Wall Street expectations.
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