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Technology stocks retreated with the broader Thursday markets, with the Technology Select Sector SPDR Fund (XLK) sliding 1.3% and the Philadelphia Semiconductor Index declining 1.7% this afternoon.
In company news, Salesforce (CRM) declined 2.2% following reports the customer retention software firm has eliminated hundreds of sales and marketing employees as part of its previously announced plan to cut 10% of its workforce.
MongoDB (MDB) fell 9.4% after the data analytics company late Wednesday provided revenue guidance for fiscal Q1 and fiscal 2024 that lagged analyst estimates.
Among gainers, Asana (ASAN) added over 19% after the work management software firm reported Q4 results exceeding Wall Street expectations and also forecast smaller-than-expected losses for the current quarter ending April 30 and for its fiscal year.
IDT (IDT) rose 5.3% after the cloud communications and fintech company overnight reported an increase in non-GAAP net income for its fiscal Q2 ended Jan. 31 to $0.62 per share from $0.30 per share during the same quarter last year.
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