Technology Sector Update for 04/23/2021: INTC, STX, SNAP, XLK, SOXX

Technology stocks were advancing premarket Friday. The Technology Select Sector SPDR ETF (XLK) was up 0.2% and the Semiconductor Sector Index Fund (SOXX) was 0.6% higher.

Intel (INTC) was slipping past 3% after it reported Q1 adjusted earnings of $1.39 per share, down from $1.41 a year ago. Analysts polled by Capital IQ had expected normalized EPS of $1.14.

Seagate Technology (STX) was down about 2% after posting adjusted EPS of $1.48 in fiscal Q3, up from $1.38 a year earlier, and surpassing analyst estimates of $1.32 in a Capital IQ survey.

Snap (SNAP) was gaining over 5% after it reported adjusted EPS of zero cents per share, improving from an adjusted loss of $0.08 per share a year earlier. Analysts expected an adjusted loss of $0.05 per share.

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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