09:08 AM EDT, 09/02/2025 (MT Newswires) -- Technology stocks were declining pre-bell Tuesday, with the Technology Select Sector SPDR Fund (XLK) down 1.9% and the SPDR S&P Semiconductor ETF ( XSD ) 2.9% lower.

Intel ( INTC ) said late Friday that it has amended its Direct Funding Agreement with the US Department of Commerce to remove several project milestones, and received the full $5.70 billion in accelerated disbursements. Intel ( INTC ) shares were down more than 2% premarket.

Commvault Systems ( CVLT ) stock was down more than 3% after the company said it intends to offer $750 million worth of convertible senior notes due 2030.

Avnet (AVT) shares were more than 2% lower after the company said it is planning a $500 million private offering of convertible senior notes due 2030.