Technology Sector Update for 02/07/2023: BIDU, TOST, VRNS

Technology stocks were higher with the SPDR Technology Select Sector ETF (XLK) Tuesday rising 2.2% while the Philadelphia Semiconductor Index (^SOX) was up 2.8% this afternoon.

In company news, Baidu (BIDU) was rising 11% after reports that the Chinese company is preparing to launch an artificial-intelligence chatbot in March.

Varonis Systems (VRNS) was up 6.1% after it reported better-than-expected Q4 adjusted earnings of $0.21 per diluted share, up from $0.16 per share a year earlier. Analysts polled by Capital IQ expected adjusted EPS of $0.17.

Toast (TOST) was advancing 2.2% after it formed a partnership with Alphabet (GOOG, GOOGL) unit Google to launch a food ordering channel for Toast restaurant guests.

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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