09:11 AM EDT, 10/15/2024 (MT Newswires) -- Technology stocks were edging higher premarket Tuesday, with The Technology Select Sector SPDR Fund ( XLK ) and SPDR S&P Semiconductor ETF ( XSD ) up 0.1%.

Wolfspeed ( WOLF ) shares were up past 32% after the company said it expects up to $2.50 billion in additional capital, including a proposed $750 million in federal investment, another $750 million in new financing, and $1 billion of cash tax refunds.

Ericsson (ERIC) shares advanced over 9% after the company reported Q3 earnings and net sales that topped Capital IQ analysts' estimates.

Guidewire Software ( GWRE ) shares were over 1% lower after the company said it is launching a private offering of $500 million worth of convertible senior notes due 2029.