Tech stocks have had an up and down session so far Friday as U.S. markets rebound from Thursday's selloff. The tech-heavy Nasdaq Composite index was up nearly 40 points at 6,254 shortly after noon ET.
Still, Snap Inc. (SNAP) was one of tech's and the market's biggest losers, falling 11.03% to $12.18 at midday. The stock suffered after the company reported a net loss of 16 cents per share that was 2 cents wider than the market expected. Revenue of $181.7 million also missed market expectations of $186.2 million.
Chipmaker Nvidia Corp. (NVDA) was down 6.5% to $153.91 in midday trading, despite its strong earnings beat after hours Thursday. Investors were concerned over slowing growth in the company's data center and autonomous driving businesses.
NetEase Inc. (NTES) shares were also falling sharply for the second straight session following the release of the company's second quarter results. The company reported earnings of $3.86 per share that fell short of expectations. NetEase stock traded down 1.93% to $278.77 at midday.
Blue Apron Holdings Inc. (APRN) shares were falling 1.46% to $5.07 in midday trading on analyst downgrades after the company reported a wider loss than expected even though revenue topped analyst expectations.
Bigwigs like Amazon.com (AMZN) were doing well, however. The e-retailer was gaining 1.23% to $968.62 at midday.
Microsoft Corp. (MSFT) shares were up 1.15% to $72.24.
Facebook Inc. (FB) shares were up 0.42% to $168.11.
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