09:07 AM EDT, 10/09/2024 (MT Newswires) -- Technology stocks were leaning lower premarket Wednesday as the Technology Select Sector SPDR Fund ( XLK ) fell by 0.1% and the SPDR S&P Semiconductor ETF ( XSD ) was down slightly recently.

Taiwan Semiconductor Manufacturing ( TSM ) shares were 0.8% higher after the company reported revenue of $251.87 billion New Taiwan dollars ($7.82 billion) in September, up 39.6% from a year earlier.

Algorhythm Holdings ( RIME ) shares rose 19% after the company said it signed a new agreement with an unnamed India-based global consumer goods firm under which its SemiCab Holdings unit will offer shipping services through its artificial intelligence-powered software platform.

InterDigital (IDCC) shares were up 0.5% after the company said it entered into a new patent license deal with Lenovo, resolving all pending litigation between the parties.