09:08 AM EDT, 06/11/2025 (MT Newswires) -- Technology stocks were advancing premarket Wednesday, with the Technology Select Sector SPDR Fund (XLK) up 0.3% and the SPDR S&P Semiconductor ETF ( XSD ) 0.9% higher.

Ouster (OUST) shares were up 17% after the company said that the US Department of Defense has vetted and approved the company's OS1 digital lidar for use in unmanned aerial systems.

Gitlab ( GTLB ) shares slid 14% after Truist Securities lowered its price target on the stock to $75 from $80, with the brokerage noting that while the company delivered fiscal Q1 results above the guidance range, "the beat was lighter than what investors were looking for."

SailPoint ( SAIL ) shares gained 12% after the company reported a narrower fiscal Q1 net loss and higher revenue.