Technology Sector Update for 12/05/2022: GRND, WTT, SAIC, XLK, SOXX

Technology stocks were leaning lower premarket Monday. The Technology Select Sector SPDR ETF (XLK) was down 0.5% and the Semiconductor Sector Index Fund (SOXX) was declining by 0.7%.

Grindr (GRND) said it swung to a Q3 net loss of $4.7 million from earnings of $1.9 million a year earlier, while revenue improved to $50.4 million from $38.2 million. Grindr was over 4% higher.

Wireless Telecom Group (WTT) was up 4.5% after saying it agreed to sell its radio, baseband and software segment CommAgility to E-Space for $14.5 million.

Science Applications International (SAIC) was advancing 2.5% after it reported fiscal Q3 adjusted earnings of $1.90 per diluted share, up from $1.85 a year earlier. Analysts polled by Capital IQ expected $1.73.

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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