Technology stocks were mixed pre-bell Thursday. The Technology Select Sector SPDR ETF (XLK) was up 0.09%, and the Semiconductor Sector Index Fund (SOXX) was slipping by 0.32% recently.
iQIYI (IQ) was gaining more than 11% after it posted Q1 non-GAAP earnings of 0.20 renminbi ($0.03) per diluted American depositary share, compared with an adjusted loss of 1.30 renminbi per ADS a year earlier. Analysts surveyed by Capital IQ projected a normalized loss of 0.40 renminbi.
Baidu (BIDU) reported Q1 non-GAAP earnings of 11.22 renminbi ($1.77) per diluted American depositary share, down from 12.38 renminbi per ADS a year ago. Analysts polled by Capital IQ projected normalized earnings of 5.58 renminbi. Baidu was over 5% higher recently.
Twitter (TWTR) was up more than 4% after Tesla (TSLA) CEO Elon Musk committed to provide an additional $6.25 billion in equity financing toward his bid to acquire the microblogging service.
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