Tech stocks advanced Tuesday afternoon with the Technology Select Sector SPDR Fund (XLK) rising 1.3% and the Philadelphia Semiconductor index adding nearly 1%.
In corporate news, Gen Digital (GEN) shares jumped almost 10%. The company reported an increase in fiscal Q2 earnings and revenue, while tightening the forecasts for the full financial year.
Alteryx (AYX) reported late Monday it swung to Q3 adjusted earnings of $0.29 per diluted share from a $0.05 loss per share a year earlier. Analysts polled by Capital IQ expected a loss of $0.06 per share. Its shares soared past 17%.
Novanta (NOVT) shares slumped 13% after the company’s Q3 revenue declined year-over-year and its updated 2023 outlook fell short of market expectations.
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