Technology Sector Update for 09/28/2022: CGNT, INTC, BB, BB.TO

Technology stocks were advancing on Wednesday, with the SPDR Technology Select Sector ETF $The Technology Select Sector SPDR® Fund (XLK.US)$ rising 0.5% while the Philadelphia Semiconductor Index was gaining 0.7% this afternoon.

In company news, Cognyte Software $Cognyte Software (CGNT.US)$ rose almost 14% after the investigative analytics software firm Wednesday reported a non-GAAP loss of $0.04 per share in Q2, reversing a $0.17 per share adjusted profit during the same quarter last year but still beating the Capital IQ consensus looking for a $0.17 per share loss.

Intel $Intel (INTC.US)$ was hanging on for a 0.5% gain after Wednesday launching a new tool kit and services to support developers working on artificial intelligence, security and quantum computing projects.

BlackBerry $BlackBerry (BB.US)$ declined 1% after the software firm said revenue for its fiscal Q2 ended August 31 fell 4% from year-ago levels to $168 million, although that still beat the analyst consensus looking for $165.8 million in Q2 revenue.