Technology stocks were advancing premarket Friday. The Technology Select Sector SPDR Fund (XLK) was up a slight 0.01% and the iShares Semiconductor ETF (SOXX) was 0.3% higher recently.
Snap (SNAP) was shedding over 16.8% in value after it reported a Q1 revenue of $988.6 million, down from $1.06 billion last year. Analysts surveyed by Capital IQ expected $1.01 billion.
Intel (INTC) reported a Q1 non-GAAP loss of $0.04 per diluted share, compared with earnings of $0.87 per share a year earlier. The result still beat the $0.14 loss per share estimated by analysts polled by Capital IQ. Intel was up 6.7% recently.
Sensient Technologies (SXT) was marginally advancing after it posted Q1 earnings of $0.80 per diluted share, down from $0.88 per share a year ago but exceeding the expected EPS of $0.77 by two analysts surveyed by Capital IQ.
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