Technology stocks were advancing Tuesday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 1.4% and the Philadelphia Semiconductor Index gaining 2.5%.
In company news, Varonis Systems (VRNS) rose nearly 9% after the data-analytics company reaffirmed its Q1 and fiscal 2023 forecasts straddling Wall Street expectations.
Advanced Micro Devices (AMD) was up 6.2% after introducing its fourth-generation EPYC processors based on the company’s Zen 4 architecture for use in embedded networking, security firewall and storage systems in cloud and enterprise systems.
GitLab (GTLB) fell more than 28% after the software-development platform company forecast revenue for its fiscal Q1 and fiscal 2024 lagging analyst projections for the respective periods.
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