Technology stocks tumbled on Friday, with the Technology Select Sector SPDR Fund (XLK) slumping 1.7% and the Philadelphia Semiconductor Index down 1.9% this afternoon.
In company news, AvePoint (AVPT) fell 15% after the data management firm reported a wider-than-expected Q4 net loss and revenue trailing estimates by analysts. It also projected revenue for its current Q1 and 2023 lagging behind the Wall Street consensus.
DocuSign (DOCU) plunged 23%. The digital-signatures software company said Chief Financial Officer Cynthia Gaylor will step down in the coming months.
Nano Dimension (NNDM) tumbled 11% after the 3D printer firm made an unsolicited, non-binding offer to acquire US-based rival Stratasys (SSYS) for $18 per share in cash, or 28.5% above Thursday’s closing price. Stratasys rose 9.1%.
Blackbaud (BLKB) slipped 1.3% after the cloud software firm agreed to pay $3 million to settle charges by the US Securities and Exchange Commission related to misleading disclosures about a 2020 ransomware attack affecting more than 13,000 customers.
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