Technology stocks were moderately higher on Tuesday, with the SPDR Technology Select Sector Fund (XLK) rising 0.4% although the Philadelphia Semiconductor Index was falling 0.1% this afternoon.
In company news, Inpixon (INPX) added 2.5% after the enterprise software firm Tuesday said 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 Tuesday said Seagate Technology (STX) selected its AI-driven enterprise portfolio. Juniper shares also were getting a boost Tuesday from JPMorgan raising its price target for the company’s share by $3 to $42 each and reiterating its overweight stock rating. Seagate shares were 1% higher this afternoon.
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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