OKTA

Technology Sector Update for 12/01/2022: OKTA, SPLK, SNOW, XLK, SOXX

Technology stocks were advancing pre-bell Thursday. The Technology Select Sector SPDR ETF (XLK) was up 0.21% and the Semiconductor Sector Index Fund (SOXX) was climbing by 0.69% recently.

Okta (OKTA) was rallying by more than 17% after reporting Q3 breakeven, compared with an adjusted loss of $0.07 per share a year ago. Analysts polled by Capital IQ expected a loss of $0.24.

Splunk (SPLK) was up more than 8% after saying that it swung to fiscal Q3 non-GAAP earnings of $0.83 per diluted share from a loss of $0.37 a year ago. Analysts polled by Capital IQ expected normalized EPS of $0.25.

Snowflake (SNOW) reported Q3 adjusted EPS of $0.11, up from $0.03 per share a year ago. Analysts polled by Capital IQ expected normalized EPS of $0.05. Shares of the company lost more than 1% in recent premarket activity.

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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