Sector Update: Tech Stocks Gain Premarket Monday

MT Newswires Live10-28

Technology stocks were gaining premarket Monday, with the SPDR S&P Semiconductor ETF (XSD) up 1.1% and The Technology Select Sector SPDR Fund (XLK) 0.8% higher.

ON Semiconductor (ON) shares were up over 3% after the company reported lower fiscal Q3 adjusted earnings and revenue that still topped Capital IQ analysts' forecast.

PSQ Holdings (PSQH) shares were 3% higher after the company said it launched its payments platform and received a $5.4 million public equity investment while simultaneously announcing a plan to reduce its staff by 35%.

Gilat Satellite Networks (GILT) shares were over 1% higher after the company said its DataPath unit has won a US Department of Defense contract worth over $4 million for the provision of DKET 3421 terminals.

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