Technology stocks pared a small portion of their Tuesday declines, with the SPDR Technology Select Sector ETF (XLK) falling 0.5% and the Philadelphia Semiconductor Index sliding 0.7% this afternoon.
In company news, Kingsoft Cloud Holdings (KC) tumbled over 17% after the Chinese cloud services company reported a 12% year-over-year decline in Q2 revenue to 1.91 billion renminbi. The company is projecting Q3 revenue in a range of 1.95 billion renminbi to 2.15 billion renminbi.
OneSpan (OSPN) declined 5.2%. The digital identity company named Jorge Garcia Martell as its new chief financial officer, succeeding interim CFO Jan Kees van Gaalen. Garcia Martell most recently was CFO at privately held logistics company Extreme Reach.
Locafy (LCFY) fell 7.3% after the software-as-a-service firm Tuesday announced its purchase of search engine optimization and marketing company Jimmy Kelley Digital, with CEO Jimmy Kelly joining Locafy as its new global head of search technology as part of the deal.
Accenture (ACN) slid 0.2% after it announced its purchase of supply chain software firm Inspirage for an undisclosed amount. The technology consulting company said the deal is expected to expand its capabilities with Oracle (ORCL) Cloud and other emerging technologies, including touchless supply chain and digital twins.
