Technology stocks were falling pre-bell Thursday, with The Technology Select Sector SPDR Fund (XLK) down 2.8% and the SPDR S&P Semiconductor ETF (XSD) 2.2% lower.
STMicroelectronics (STM) shares were down more than 6% after the company said it will overhaul its manufacturing network over the next three years, aiming to streamline operations and reduce costs significantly, with up to 2,800 voluntary staff departures expected globally.
ASE Technology (ASX) reported net revenue of 53.75 billion New Taiwan dollars ($1.64 billion) for March, up nearly 18% from a year earlier. The company's stock was more than 5% lower pre-bell.
Dell Technologies (DELL) has removed or narrowed the discounts on many of its computers in the US, Bloomberg News reported. The company's shares were down more than 3% premarket.
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