SPY420.86+5.94 1.43%
DIA338.78+5.82 1.75%
IXIC14,141.48+111.10 0.79%

Sector Update: Tech Stocks Decline Premarket Monday

05/10/2021 05:07

09:02 AM EDT, 05/10/2021 (MT Newswires) -- Technology stocks were declining premarket Monday. The Technology Select Sector SPDR ETF (XLK) was down 0.28% and the Semiconductor Sector Index Fund (SOXX) was 0.66% lower in recent trading.

Weibo (WB) was climbing past 4% after reporting Q1 adjusted earnings of $0.57 per share, up from $0.30 per share a year earlier. Analysts polled by Capital IQ projected adjusted EPS of $0.48.

MagnaChip Semiconductor (MX) was more than 1% higher as it reported Q1 adjusted earnings of $0.22 per diluted share, up from $0.03 a year ago. The consensus of analysts polled by Capital IQ was $0.13.

CEVA (CEVA) was shedding more than 4% as it reported $0.01 in Q1 adjusted EPS that slipped from $0.11 a year ago. Analysts polled by Capital IQ were expecting earnings of $0.06 a share.