Sector Update: Tech Stocks Fall Pre-Bell Thursday

MT Newswires Live10-29 21:08

Technology stocks were falling pre-bell Thursday, with the State Street Technology Select Sector SPDR Fund (XLK) down 1.2% and the State Street SPDR S&P Semiconductor ETF (XSD) declining by 1.9%.

Alphabet (GOOG, GOOGL) stock was down more than 11% after the company reported a decline in Q3 earnings, while revenue increased during the period but still missed analysts' expectations.

ServiceNow (NOW) shares were down more than 18% after the company posted higher Q3 non-GAAP earnings and revenue, with non-GAAP EPS missing analysts' expectations.

ASE Technology (ASX) shares were down more than 3% even after the company reported higher Q3 earnings and revenue.

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