Technology Sector Update for 07/17/2020: AEHR, NFLX, ERIC, XLK, SOXX

Technology firms were trading flat-to-higher before markets open on Friday. The Technology Select Sector SPDR ETF (XLK) gained 0.4%, while the Semiconductor Sector Index Fund (SOXX) was flat.

Aehr Test Systems (AEHR) lost more than 20% during premarket trading. The company on Thursday reported Q4 adjusted net loss of $0.03 per share, compared with an adjusted profit of $0.02 per share a year earlier. Analysts polled by Capital IQ expected an adjusted loss of $0.03 per share.

Netflix (NFLX) was also down nearly 7%. The streaming platform reported on Thursday Q2 EPS of $1.59, up from $0.60 a year earlier. Analysts polled by Capital IQ had projected $1.83.

Meanwhile, Ericsson (ERIC) gained more than 11% after reporting said Q2 adjusted earnings of SEK0.94 ($0.10) per share, up from SEK0.59 per share in the earlier year period, exceeding the Capital IQ-compiled consensus forecast of SEK0.65.

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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