Technology stocks were declining in Monday trading, with the SPDR Technology Select Sector ETF (XLK) falling 1.6% and the Philadelphia Semiconductor Index sliding 1.0% this afternoon.
In company news, Infosys (INFY) declined 2.5%. The digital services company said it set up a new proximity center in Gothenburg, Sweden, as part of its localization strategy in the Nordic region.
NextPlat (NXPL) was 1.8% higher, rebounding from a recent 2.5% slide, after the ecommerce consulting company said Cecile Munnik began Nov. 14 as its new chief financial officer. Munnik currently is the CFO at OTC-listed Progressive Care (RXMD), joining NextPlat CEO Charles Fernandez in dual roles at the two companies.
Science Applications International (SAIC) gained 4.4% after the technology consultants increased its adjusted earnings and revenue forecasts for fiscal 2023 following better-than-expected Q3 results. The company raised the bottom end of its prior profit guidance by $0.05 to a new range of $7.05 to $7.20 per share on around $7.6 billion in revenue this year compared with its previous outlook expecting between $7.5 billion to $7.55 billion. The analyst consensus is looking for non-GAAP net income of $7.08 per share during the 12 months ending Jan. 31 on $7.53 billion in revenue.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Image and article originally from www.nasdaq.com. Read the original article here.