Technology Sector Update for 02/22/2023: WIX,PANW,KEYS

Technology stocks were narrowly higher on Wednesday, with the Technology Select Sector SPDR Fund (XLK) rising 0.5% and the Philadelphia Semiconductor Index gaining 0.4% this afternoon.

In company news, Wix.com (WIX) rose 12%. The company on Wednesday reported non-GAAP Q4 earnings and revenue that topped estimates by analysts. A year earlier, the company posted a loss.

Palo Alto Networks (PANW) jumped 13%. The company lifted its full-year profit outlook on the back of its software-based and cloud-delivered portfolio performance, and the cybersecurity firm recorded higher fiscal second-quarter results that topped market expectations.

Keysight Technologies (KEYS) dropped 13% after the electronics testing technology company issued a fiscal Q2 revenue outlook that trailed estimates by analysts.

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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