Sector Update: Tech Stocks Mixed Premarket Monday

MT Newswires Live11-11

Technology stocks were mixed premarket Monday as the Technology Select Sector SPDR Fund (XLK) was up marginally and the SPDR S&P Semiconductor ETF (XSD) fell by 2.7% recently.

Sapiens International (SPNS) shares tumbled more than 22% after the company reported a Q3 revenue that missed analysts' expectations and lowered its 2024 non-GAAP revenue guidance.

Monday.com (MNDY) shares fell by almost 15% even after the company reported higher Q3 non-GAAP net income and revenue and raised its 2024 revenue outlook.

Enphase Energy (ENPH) said it plans to reduce its global workforce by 17% and move certain functions to cost-efficient regions, affecting about 500 employees and contractors. Enphase Energy shares were down 0.1% premarket.

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