Technology Sector Update for 01/24/2023: VERB,CR,SKYT

Technology stocks were little changed on Tuesday, with the Technology Select Sector SPDR Fund (XLK) rising 0.2% while the Philadelphia Semiconductor Index was dropping 0.7%.

In company news, Verb Technology (VERB) tumbled 48%, erasing a large slice of Monday's 69% gain, after the software-as-a-service company disclosed plans for a public offering of its common stock, subject to market conditions.

Crane (CR) climbed 3.3% after the aerospace and specialty electronics company late Monday reported non-GAAP net income of $2.13 per share for its Q4 ended Dec. 31, up from $1.31 per share a year earlier and beating the Capital IQ consensus by $0.23 per share.