09:06 AM EST, 02/05/2025 (MT Newswires) -- Technology stocks were leaning lower premarket Wednesday as the Technology Select Sector SPDR Fund (XLK) was down 0.2% and the SPDR S&P Semiconductor ETF ( XSD ) was flat recently.

Alphabet (GOOG, GOOGL) reported Q4 earnings late Tuesday that topped analysts' estimates and revenue that lagged market expectations. The company's shares were down 7.5% pre-bell Wednesday.

Advanced Micro Devices ( AMD ) on Tuesday reported higher Q4 non-GAAP earnings and revenue. The company's shares fell 9.8% in premarket activity Wednesday.

Workday (WDAY) said it is launching a restructuring plan that is expected to result in about 1,750 layoffs, representing 8.5% of the company's current workforce. The company's shares rose nearly 6%.