Technology Sector Update for 02/14/2024: LYFT, UBER, SONY, XLK, XSD

Technology stocks were advancing premarket Wednesday, with the Technology Select Sector SPDR Fund (XLK) up 0.6% and the SPDR S&P Semiconductor ETF (XSD) 1.7% higher.

Lyft (LYFT) was rallying past 21% after it overnight reported a Q4 net loss of $26.3 million, narrowing from a $588.1 million loss a year earlier. Revenue for the quarter that ended Dec. 31 was $1.22 billion, up from $1.18 billion a year earlier.

Uber Technologies (UBER) was up over 7% in value after saying its board has authorized the repurchase of up to $7 billion of the company's shares.

Sony Group (SONY) was over 1% higher after it reported higher fiscal Q3 earnings and sales and financial services revenue.

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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