Sector Update: Tech Stocks Advance Premarket Monday

MT Newswires Live01-06 21:57

Technology stocks advanced premarket Monday with the Technology Select Sector SPDR Fund (XLK) up 1% and the SPDR S&P Semiconductor ETF (XSD) 2.3% higher recently.

Paychex (PAYX) is in advanced discussions to acquire its smaller rival Paycor HCM (PYCR) in a deal that could bring together two major players in the market for human-resources software and services, Bloomberg News reported, citing unnamed people with knowledge of the matter. Paycor HCM shares were up over 22% pre-bell.

Uber Technologies (UBER) shares were almost 5% higher after the company said it has signed an accelerated share repurchase agreement with Bank of America to buy back $1.5 billion of its shares as part of its $7 billion stock repurchase program.

Tenable Holdings (TENB) said Saturday that Chairman and CEO Amit Yoran has passed away after a battle with cancer. Tenable Holdings shares were up over 5% premarket.

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