Technology stocks were declining premarket Friday with the Technology Select Sector SPDR Fund (XLK) recently down 0.5% and the SPDR S&P Semiconductor ETF (XSD) slipping by 0.9%.
Maxeon Solar Technologies (MAXN) was shedding over 28% in value after saying it now expects fiscal 2023 revenue of $1.25 billion to $1.35 billion compared with its prior guidance of $1.40 billion to $1.60 billion. Analysts surveyed by Capital IQ are expecting $1.51 billion.
Pagaya Technologies (PGY) was climbing past 13% after it reported a Q2 breakeven non-GAAP results, compared with a loss of $0.07 a share a year earlier. Three analysts surveyed by Capital IQ expected breakeven results.
Velo3D (VLD) was retreating by more than 11% after saying it agreed to sell up to $105 million of its senior secured convertible notes to certain affiliated institutional investors.
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