09:13 AM EDT, 04/08/2024 (MT Newswires) -- Technology stocks were mixed premarket Monday, with the Technology Select Sector SPDR Fund ( XLK ) up 0.2% and the SPDR S&P Semiconductor ETF ( XSD ) 1.3% lower.

Perion Network ( PERI ) was down more than 37% after the company lowered its 2024 guidance for revenue and adjusted EBITDA due to a decline in search advertising activity in Q1.

Vista Equity Partners has entered into a definitive merger agreement to acquire Model N ( MODN ) , for $1.25 billion in an all-cash transaction, Model N ( MODN ) said. Model N ( MODN ) was up over 9% in recent Monday premarket activity.

Taiwan Semiconductor Manufacturing ( TSM ) was over 2% higher after saying it would receive up to a $6.60 billion subsidy from the US Department of Commerce to expand the facilities for advanced semiconductor production at its existing plants in Phoenix, Arizona.