Sector Update: Tech Stocks Advance Premarket Friday
09:06 AM EST, 02/05/2021 (MT Newswires) -- Technology stocks were advancing premarket Friday. The Technology Select Sector SPDR ETF (XLK) was 0.28% higher and the Semiconductor Sector Index Fund (SOXX) was up 0.40% in recent trading.
Pinterest (PINS) was gaining more than 10% in value after reporting Q4 non-GAAP EPS of $0.43, up from $0.12 a year earlier. That result exceeded the $0.33 average estimate of analysts polled by Capital IQ.
Ubiquiti (UI) was climbing past 9% after posting fiscal Q2 adjusted earnings of $2.53 per diluted share, up from $1.40 a year earlier. Analysts polled by Capital IQ expected $1.77 a share.
Snap (SNAP) was declining by more than 6% after it posted a Q4 adjusted profit of $0.09 per share, compared with $0.03 per share for the same period a year earlier. A poll of analysts by Capital IQ estimated the social media company would post an adjusted profit of $0.07 a share.