09:06 AM EDT, 09/03/2024 (MT Newswires) -- Technology stocks were declining premarket Tuesday as the Technology Select Sector SPDR Fund ( XLK ) was down 1% and the SPDR S&P Semiconductor ETF ( XSD ) was 2.2% lower recently.

Intel ( INTC ) CEO Pat Gelsinger is planning to put forth a plan later this month to rid the chipmaker of various businesses and change capital spending priorities, Reuters reported Sunday, citing a source familiar with the matter. Intel ( INTC ) shares were down 1.2% pre-bell.

Hello Group ( MOMO ) shares were over 1% lower after it reported lower Q2 adjusted earnings and net revenue.

Sify Technologies ( SIFY ) shares soared past 142% after the company said it has been certified to provide liquid cooling technology for Nvidia ( NVDA ) data centers as part of the DGX-Ready Data Center program.