09:06 AM EDT, 05/08/2024 (MT Newswires) -- Technology stocks were mixed pre-bell Wednesday as the Technology Select Sector SPDR Fund ( XLK ) was down 0.4% and the SPDR S&P Semiconductor ETF ( XSD ) was 0.3% higher recently.

Intel ( INTC ) was over 2% lower as it updated its Q2 outlook after the US Commerce Department notified the company that it was revoking certain licenses for exports of consumer-related items to a customer in China, effective immediately. As a result, the company now expects Q2 revenue to remain in the original range of $12.5 billion to $13.5 billion but below the midpoint.

Uber Technologies ( UBER ) was down more than 9% after it reported a Q1 net loss of $0.32 per diluted share, widening from a loss of $0.08 per share a year earlier.

Affirm Holdings ( AFRM ) was up 0.9% after reporting that its fiscal Q3 loss narrowed as revenue increased during the period.