Technology Sector Update 02/02/2022: AMD,GOOG,GOOGL,GILT,DT

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JTech stocks held on to some of their Wednesday gain, buoyed by Google parent Alphabet (GOOG, GOOGL) overnight in the fourth quarter as the internet conglomerate announced plans for a 20-for-1 stock split. 1.

At last look, the SPDR Technology Select Sector ETF (XLK) was up 0.3% while the Philadelphia Semiconductor Index was up 1.8% this afternoon.

In company news, Advanced Micro Devices (AMD) rose 6.1% after beating Wall Street expectations and comparisons a year ago for the fourth quarter, as the chipmaker forecast that first quarter and fiscal 22 sales also exceeded analysts’ estimates.

Gilat Satellite Networks (GILT) rose 3.3% after announcing the launch of its next-generation SkyEdge IV terrestrial communications satellite system.

Dynatrace (DT) lost more than 19% after the multi-cloud software company released a revised FY22 revenue forecast that lagged Wall Street expectations. It expects revenue for the 12 months ending March to rise from $922 million to $924 million, up from its previous forecast of $913 million to $919 million, but still below consensus. of Capital IQ which expects $925.7 million in revenue for FY22.

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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