08:58 AM EDT, 04/03/2024 (MT Newswires) -- Technology stocks were leaning lower premarket Wednesday, with the Technology Select Sector SPDR Fund ( XLK ) retreating 0.4% while the SPDR S&P Semiconductor ETF ( XSD ) was marginally down.

Intel ( INTC ) officials said the company's chip foundry business suffered a 2023 operating loss of $7 billion on sales of $18.9 billion, widening from a loss of $5.2 billion on $27.5 billion in sales a year earlier, news outlets reported. Intel ( INTC ) shares were down 5.4% pre-bell Wednesday.

Acuity Brands ( AYI ) was up 0.3% after the company reported fiscal Q2 adjusted earnings of $3.38 per diluted share, up from $3.06 a year earlier.

Ambarella ( AMBA ) and SANY Group said that they have agreed to collaborate on advanced mobility services, with SANY using Ambarella's ( AMBA ) CV3-AD family of automotive artificial intelligence domain controller systems-on-chip in developing advanced automated driving features for its vehicles. Ambarella ( AMBA ) shares were down 0.8% premarket Wednesday.