Technology stocks turned sharply lower this afternoon, with the SPDR Technology Select Sector ETF falling 1.1% in late regular-hours trading Thursday while the Philadelphia Semiconductor Index was sinking 2.1%.
In company news, Zymergen (ZY) climbed as much as 31% in its public markets debut after the foldable touchscreens company priced an upsized $500 million initial public offering of 16.13 million common shares at $31 apiece, the top end of its expected $28 to $31 range. The stock was up 19.3% in recent trading.
Teradata (TDC) rose nearly 27% after raising its Q1 earnings forecast, now projecting a $0.67 to $0.69 per share adjusted profit for the three months ended March 31, up from its prior guidance looking for $0.38 to $0.40 per share and topping the Capital IQ consensus expecting the cloud analytics software company to earn $0.39 per share, excluding one-time items.
Qualtrics International (XM) gained almost 24% after the enterprise software firm reported a surprise Q1 profit along with revenue for the three months ended March 31 exceeding Wall Street forecasts.
Shoals Technologies Group (SHLS) was little changed, overcoming a nearly 4% morning decline that followed Barclays cutting its stock rating for the electronic components company to equal-weight from overweight and also lowering its price target for Shoals shares by $14 to $35 apiece.
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