08:56 AM EDT, 04/02/2024 (MT Newswires) -- Technology stocks were lower trading premarket Tuesday, with the Technology Select Sector SPDR Fund ( XLK ) retreated 0.8%, while the SPDR S&P Semiconductor ETF ( XSD ) fell 1.4%.

Microvast ( MVST ) fell more than 25% after the company reported a wider loss than anticipated in Q4.

Terran Orbital ( LLAP ) reported a Q4 net loss of $0.21 per diluted share, lagging analysts' estimates of a loss of $0.20. The company's shares dropped more than 10% recently.

Veeva Systems ( VEEV ) declined more than 3% after the company said that Brent Bowman stepped down as chief financial officer of the company.