Tech stocks rose late Tuesday afternoon, with the Technology Select Sector SPDR Fund (XLK) up 0.7% and the Philadelphia Semiconductor index climbing 1%.
In company news, Alpha Technology Group (ATGL) said Tuesday it priced its initial public offering of about 1.8 million ordinary shares at $4 per share for gross proceeds of $7 million. Its shares soared 27%.
Nokia (NOK) said Tuesday it filed lawsuits against Amazon.com (AMZN) and Hewlett Packard Enterprise (HPE) for allegedly infringing on patents covering video-related technologies. Nokia shares rose 0.2%.
Perficient (PRFT) shares jumped almost 12%. The company reported Q3 adjusted earnings Tuesday of $0.92 per diluted share, down from $1.11 a year earlier. Analysts polled by Capital IQ expected $0.92. Revenue for the quarter was $223.2 million, down from $227.6 million a year earlier. Analysts expected $222 million.
The US Securities and Exchange Commission said Monday it filed charges against SolarWinds (SWI) and Chief Information Security Officer Timothy Brown for alleged fraud and internal control failures related to “cybersecurity risks and vulnerabilities.” SolarWinds was down 0.7%.
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