Voya Financial (VOYA) Q3 Earnings and Revenues Top Estimates


Technology stocks were extending their gains to a second session on Friday, with the SPDR Technology Select Sector ETF (XLK) rising nearly 2% while the Philadelphia Semiconductor Index was climbing 2.1% this afternoon.

In company news, Matterport (MTTR) shares were more than 25% higher after the spatial-data analytics company reported a non-GAAP Q3 net loss of $0.09 per share, expanding on its $0.06 per share adjusted loss during the same quarter last year and beating the Capital IQ consensus call looking for a $0.14 per share loss. Revenue increased to $38 million from $27.7 million a year ago, also exceeding the $36 million Street view. Matterport is projecting a smaller Q4 net loss than analysts and above-consensus revenue for the current quarter ending Dec. 31.

Navitas Semiconductor (NVTS) shares added 10.2% after Friday announcing a new partnership with fellow chipmaker Avnet (AVT) to expand the market in Europe for Navitas’ GaNFast gallium nitride power integrated circuits. Avnet shares also were 2.1% higher this afternoon.

SoundHound AI (SOUN) shares were 2.3% lower in afternoon trading, giving back an early 39% spike, after the voice artificial intelligence company reported a smaller-than-expected Q3 net loss while revenue nearly tripled over year-ago levels, rising 178% to $11.2 million, and also beating the three-analyst mean looking for $10.4 million. The company, which is trimming about 10% of its workforce, also said it will unveil a new human-computer interactions technology on Nov. 17 it believes will “redefine conversational AI.”

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.