09:09 AM EDT, 10/28/2024 (MT Newswires) -- Technology stocks were gaining premarket Monday, with the SPDR S&P Semiconductor ETF ( XSD ) up 1.1% and The Technology Select Sector SPDR Fund ( XLK ) 0.8% higher.

ON Semiconductor (ON) shares were up over 3% after the company reported lower fiscal Q3 adjusted earnings and revenue that still topped Capital IQ analysts' forecast.

PSQ Holdings ( PSQH ) shares were 3% higher after the company said it launched its payments platform and received a $5.4 million public equity investment while simultaneously announcing a plan to reduce its staff by 35%.

Gilat Satellite Networks ( GILT ) shares were over 1% higher after the company said its DataPath unit has won a US Department of Defense contract worth over $4 million for the provision of DKET 3421 terminals.