Technology stocks were posting narrow gains on Wednesday, with the Technology Select Sector SPDR Fund (XLK) edging up 0.1% while the Philadelphia Semiconductor Index was gaining 2.2% this afternoon.
In company news, Rapid7 (RPD) raced over 23% amid reports the cybersecurity firm is exploring its strategic options, including a potential sale. The company has hired Goldman Sachs to assist with the process, according to a Reuters report, citing unnamed people familiar with the matter.
Juniper Networks (JNPR) declined 5.7% after the communications equipment company said it generated around $1.45 billion in revenue during its Q4 ended Dec. 31, improving on $1.3 billion in revenue during the same quarter in 2021 but still lagging the Capital IQ consensus expecting $1.48 billion.
Snap (SNAP) dropped more than 12% after the camera and social media company overnight said it expects revenue for its current Q1 likely will fall 2% to 10% compared with the year-ago period.
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