09:08 AM EDT, 04/07/2025 (MT Newswires) -- Technology stocks fell premarket Monday with the Technology Select Sector SPDR Fund (XLK) down 2.7% and the SPDR S&P Semiconductor ETF ( XSD ) 7% lower recently.

AppLovin ( APP ) Chief Executive Officer Adam Foroughi said Friday in a CNBC interview that his company's offer for TikTok is "a much stronger bid than others." In a statement emailed to MT Newswires, Foroughi said the company has a deal that can "provide a win for the Trump administration and for the creators of TikTok." Shares of AppLovin ( APP ) declined more than 7% premarket.

Meta Platforms ( META ) said it has released the first models from its latest open-source artificial intelligence software Llama 4. Shares of Meta Platforms ( META ) were down nearly 3% pre-bell.

Gilat Satellite Networks ( GILT ) shares were up more than 3% after the company said its Gilat Defense division was awarded a $23 million contract to provide sustainment and support services for satellite transportable terminal units deployed globally for US Department of Defense customers.