Sector Update: Tech Stocks Rise Premarket Monday

MT Newswires Live

Aug 04

Technology stocks were rising premarket Monday as the Technology Select Sector SPDR Fund (XLK) was 1% higher and the SPDR S&P Semiconductor ETF (XSD) was recently up 0.9%.

Spotify Technology (SPOT) said it is raising the price for its premium subscription in several markets across South Asia, the Middle East, Africa, Europe, Latin America and the Asia-Pacific region. Shares of Spotify were up more than 5% pre-bell.

Amphenol (APH) shares were up more than 4% after the company said it has agreed to acquire CommScope Holding's (COMM) connectivity and cable solutions, or CCS, business for $10.5 billion in cash.

Onsemi (ON) stock was down more than 3% after the company reported lower fiscal Q2 non-GAAP earnings and revenue.

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