Technology stocks were advancing in recent trading, with the SPDR Technology Select Sector ETF (XLK) rising 1.1% while the Philadelphia Semiconductor Index was gaining 2.3% Tuesday afternoon.
In company news, TaskUs (TASK) shares surged nearly 35% after the digital outsourcing company late Monday reported improved Q3 results compared with the year-ago period and beating Wall Street expectations. It also is projecting Q4 revenue in a range of $231 million to $233 million, compared with the Capital IQ consensus looking for $228.1 million in Q4 revenue.
Diodes (DIOD) climbed 4% after overnight reporting a best-ever adjusted profit of $2.00 per share for its Q3 ended Sept. 30, up from $1.47 per share during the same quarter last year and beating the Capital IQ consensus expecting the semiconductor manufacturer earning $1.88 per share, excluding one-time items.
Lumentum Holdings (LITE) shares slid almost 14% after the optical and photonic equipment company projected non-GAAP net income and revenue for its current Q2 trailing analyst estimates. Excluding one-time items, it sees net income in a range of $1.20 to $1.45 per share on between $490 million to $520 million in revenue. Analysts, on average, are expecting a $1.60 per share adjusted on $530.6 million in Q2 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.