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Sector Update: Tech Stocks Still in Negative Territory This Afternoon

05/11/2021 09:18

01:12 PM EDT, 05/11/2021 (MT Newswires) -- Technology stocks were beginning to pare some of their morning losses, with the SPDR Technology Select Sector ETF Tuesday slipping 0.7% while the Philadelphia Semiconductor Index was falling 0.5% this afternoon.

In company news, Virgin Galactic (SPCE) fell 4% after the company late Monday reported a Q1 loss of $0.55 per share, improving on a $1.86 per share loss during the same quarter in 2020 but missing the Capital IQ consensus expecting a $0.28 per share net loss.

Everbridge (EVBG) climbed 9.6% after the software firm reported non-GAAP Q1 net income of $0.18 per share on $82.2 million in revenue compared with the Capital IQ consensus expecting an $0.11 per share net loss on $75.6 million in revenue.

3D Systems (DDD) rose almost 23% after the 3-D printer company late Monday reported non-GAAP Q1 net income of $0.17 per share, reversing a $0.04 per share loss during the year-ago quarter, while revenue grew 7.7% to $146.1 million. Analysts, on average, had been expecting a $0.02 per share adjusted profit on $136.6 million in revenue.