Technology stocks were narrowly higher on Tuesday, with the SPDR Technology Select Sector Fund (XLK) rising 0.2% while the Philadelphia Semiconductor Index shed 0.2%.
In company news, Radware (RDWR) rose 1.7% after the cybersecurity firm said an unnamed multinational pharmaceutical company with sales in more than 100 countries has purchased its end-to-end network and application security platform. Financial terms and other details of the contract were not disclosed.
Inpixon (INPX) added 2.5% after the enterprise software firm said Tuesday it received an order from an unnamed transportation and industrial products company valued at more than $1 million for its real-time location awareness, collision-avoidance, and worker safety products.
Juniper Networks (JNPR) was up 0.3% after the Wi-Fi, SD-WAN, and wired access switching products company said Seagate Technology (STX) selected its AI-driven enterprise portfolio. Juniper shares also were getting a boost Tuesday after JPMorgan raised its price target for the company’s shares by $3 to $42 each and reiterated its overweight stock rating. Seagate shares were 1% higher in late trading.
Among decliners, Rocket Lab USA (RKLB) declined 2.4% after the launch services company overnight cut its Q4 revenue outlook following a weather delay and other factors that delayed the first mission of its Electron rocket until next month. The company is now projecting revenue for the current quarter ending Dec. 31 in a range of $46 million to $47 million, down compared with its prior forecast expecting between $51 million to $54 million and trailing the Capital IQ consensus call looking for $55.1 million in Q4 revenue.
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