Technology stocks have turned lower again shortly before Monday’s closing bell, with the SPDR Technology Select Sector ETF (XLK) slipping 0.9% and the Philadelphia Semiconductor Index falling 0.9% this afternoon.
In company news, Clear Secure (YOU) jumped out to a nearly 17% advance after the identity verification software firm swung to a surprise Q3 profit while revenue grew almost 72% over year-ago levels and also exceeding Wall Street expectations. The company also is projecting revenue for the current quarter topping analyst estimates and it declared a special dividend of $0.25 per share.
Monday.com (MNDY) gained 7% after Monday posting a surprise non-GAAP Q3 profit of $0.05 per share, reversing a $0.26 per share loss during the same quarter last year and beating the Capital IQ consensus expecting the visual work software firm to report an adjusted net loss of $0.54 per share. Revenue grew 65% year-over-year to $136.9 million, also exceeding the $130.5 million analyst mean, and it also raised its 2022 revenue forecast above Wall Street expectations.
Among decliners, Thoughtworks Holding (TWKS) slid 2.2% after Monday missing analyst estimates with its adjusted Q3 earnings and the technology consulting company also lowered its forecast for non-GAAP 2022 net income and revenue.
Alight (ALIT) fell almost 18% after the enterprise software firm Monday began a secondary offering of up to 20 million class A shares now held by affiliates of Blackstone (BX), New Mountain Capital (NMFC), Jasmine Ventures and several other institutional investors.
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