$GIB

Sector Update: Tech Stocks Lower Pre-Bell Wednesday

Technology stocks were lower pre-bell Wednesday, with the State Street Technology Select Sector SPDR ETF (XLK) retreating by 0.4% and the State Street SPDR S&P Semiconductor ETF (XSD) 0.9% lower.United Microelectronics (UMC) shares were down more than 1% in premarket activity after falling 9% at the prior close. The company reported higher Q2 earnings and operating revenue and announced a phased expansion plan to boost semiconductor manufacturing capacity in Singapore and Taiwan.CGI (GIB) shares were 1.8% lower after the company reported lower-than-expected fiscal Q3 adjusted earnings and revenue.Parsons (PSN) shares fell more than 20% after the company reported a Q2 adjusted loss and cut its 2026 revenue guidance.

CGI Shares Fall After Downgrade From TD Cowen

CGI's (GIB) shares were down more than 3% in Thursday afternoon trading after TD Cowen downgraded the company's stock to hold from buy and lowered its price target to 99 Canadian dollars ($70.32) from CA$102.Trading volume stood at more than 243,000 shares, compared with a daily average of over 512,000.Price: $63.67, Change: $-2.00, Percent Change: -3.05%

TD Cowen Downgrades CGI to Hold From Buy, Adjusts Price Target to CA$99 From CA$102

Sector Update: Tech Stocks Mixed Premarket Tuesday

Technology stocks were mixed premarket Tuesday, with the State Street Technology Select Sector SPDR Fund (XLK) down 0.1% and the State Street SPDR S&P Semiconductor ETF (XSD) advancing by 0.4%.CGI (GIB) shares were up more than 1% after the company said it has earned the Solutions Partner with certified software designation for its government ERP platform, CGI Advantage, within the Microsoft AI Cloud Partner Program.Vishay Intertechnology (VSH) stock was up more than 9% after the company priced an underwritten public offering of 15 million common shares at $50 apiece for expected gross proceeds of about $750 million.Ouster's (OUST) Rev8 digital lidar sensors met the regulatory standards of the Build America, Buy America Act, making the product eligible for federally funded public works projects, the company said. Ouster shares were down more than 2% pre-bell.

Sector Update: Tech

Technology stocks were edging higher premarket Tuesday, with the State Street Technology Select Sector SPDR Fund (XLK) up 0.1% and the State Street SPDR S&P Semiconductor ETF (XSD) advancing by 0.4%.CGI (GIB) shares were up more than 1% after the company said it has earned the Solutions Partner with certified software designation for its government ERP platform, CGI Advantage, within the Microsoft AI Cloud Partner Program.

CGI Downgraded to Sector Perform at RBC, Shares Fall 11% Following Q2 Results

CGI Inc. (GIB-A.TO, GIB) was downgraded to Sector Perform from Outperform at RBC Capital Markets.Analyst Paul Treiber lowered his price target on shares of the Montreal-based information technology consulting and software development company to $100 from $150.The stock declined $10.86, or 10.8%, to $89.78 on Wednesday following CGI's quarterly results."The 11% decline in CGI's shares following Q2 results shows that the market is becoming increasingly pessimistic in light of AI uncertainty," Treiber said in a note to clients."Even though CGI's shares are trading at multi-year valuation lows, we believe the probability of an upward valuation re-rating has declined," the analyst said."We believe pessimism regarding the potential AI-related headwind to IT services pricing and growth is likely to be sustained for a longer duration than we previously expected, particularly as CGI's organic growth has trended below our expectations," Treiber said."Over the last 10 quarters, CGI's organic growth has averaged below 99 bps below our estimates, and the company has experienced 7 quarters of negative organic growth," the analyst said."While a large portion of the shortfall stems from cyclical factors, we believe intensifying AI-related pricing deflation and substitution are potential headwinds to future organic growth."

RBC Downgrades CGI Inc. to Sector Perform From Outperform, Cuts Price Target to CA$100 From CA$150

CGI Inc.'s (GIB) Canadian stock has an average rating of overweight and mean price target of CA$122.31 according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)