Technology stocks were narrowly lower this afternoon, with the SPDR Technology Select Sector ETF falling about 0.1% although the Philadelphia Semiconductor Index was rising 0.7%.
In company news, J2 Global (JCOM) rose almost 17% after the Internet services company late Monday reported non-GAAP net income of $1.71 per share, improving on a $1.60 profit during the same quarter last year and topping the Capital IQ consensus for $1.46. Revenue grew from year-ago levels to $331 million, beating the $315.8 million Street view.
Microsoft (MSFT) was fractionally lower after the firm on Tuesday announced a new, three-year strategic partnership with Standard Chartered Bank to assist with its digital transformation using Microsoft’s Azure cloud platform. Singapore-based Standard Chartered is expecting to offer core banking and trading applications, along with new digital offerings like virtual banking and banking-as-a-service, through the cloud within five years.
Kaleyra (KLR) dropped almost 11% after the Italian cloud-communications firm late Monday projected Q3 revenue of at least $36 million, compared with the Capital IQ consensus for $36.4 million.
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