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Technology stocks still were hanging on for moderate gains Wednesday, with the Technology Select Sector SPDR Fund (XLK) rising 0.5% while the Philadelphia Semiconductor Index was gaining 2.3% this afternoon.
In company news, Maxeon Solar Technologies (MAXN) gained almost 44% after reporting a smaller-than-expected Q4 net loss and revenue for the quarter ended Jan. 1 that exceeded analyst estimates.
CrowdStrike Holdings (CRWD) climbed 3.7% after the cybersecurity firm beat Wall Street expectations with its net income and revenue for its Q4 ended Jan. 31 and issued Q1 and fiscal 2024 guidance that exceeded estimates.
Qualcomm (QCOM) rose 1.5% after the chipmaker increased its quarterly cash dividend by 7% to $0.80 per share.
On the downside, Shoals Technologies Group (SHLS) slumped 7.8% after the electronic components company priced a public secondary offering of 24.5 million Class A common shares previously held by affiliates of Shoals founder Dean Solon at $24.70 per share, or 7% under its last closing price.
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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