09:09 AM EDT, 03/13/2026 (MT Newswires) -- Technology stocks were mixed pre-bell Friday, with the State Street Technology Select Sector SPDR Fund (XLK) 0.6% higher and the State Street SPDR S&P Semiconductor ETF ( XSD ) down 0.1%.

Adobe (ADBE) said its chief executive officer of 18 years, Shantanu Narayen, has decided to transition from his role after a successor has been appointed. Shares of Adobe were down more than 8% premarket.

Meta Platforms ( META ) has postponed the launch of its artificial intelligence model Avocado to at least May as the AI tool fell short of internal tests, The New York Times reported, citing three unnamed people familiar with the matter. Meta Platforms ( META ) stock was down more than 1% pre-bell.

PAR Technology ( PAR ) shares were down more than 21% after the company priced its $250 million private offering of 4% convertible senior notes due March 15, 2031.