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Technology stocks were paring a portion of their earlier declines Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) falling 0.3% while the Philadelphia Semiconductor Index was gaining 0.2% in recent trade.
In company news, ZeroFox (ZFOX) declined 7.5% after the cybersecurity firm late Tuesday missed Wall Street expectations with a $6.03-per-share net loss for a shortened fiscal Q3 beginning Aug. 4 following its merger with a blank-check company and running through Oct. 31. The lone analyst polled by Capital IQ had been expecting ZeroFox to post a Q3 loss of $0.12 per share.
Mobileye (MBLY) added 8.3% after the autonomous driving technologies company exceeded analyst estimates with its fiscal Q3 results and also guided its Q4 revenue above the consensus view. It sees Q4 revenue in the range of $527 million to $545 million compared with the Capital IQ consensus looking for $482.9 million in Q4 revenue.
MongoDB (MDB) raced almost 23% higher after the data-management company topped Wall Street expectations with its fiscal Q3 results and also projected a surprise Q4 profit and above-consensus revenue for the quarter. Excluding one-time items, MongoDB sees fiscal Q4 net income in the range of $0.06 to $0.08 per share on revenue ranging between $334 million and $337 million. Analysts, on average, are looking for an adjusted Q4 net loss of $0.13 per share on $314.8 million 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.
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