09:08 AM EDT, 05/28/2026 (MT Newswires) -- Technology stocks were mixed premarket Thursday, with the State Street Technology Select Sector SPDR Fund (XLK) 0.1% higher and the State Street SPDR S&P Semiconductor ETF ( XSD ) declining by 0.4%.

Snowflake (SNOW) stock was up more than 36% after the company reported higher fiscal Q1 adjusted net income and revenue, and raised its fiscal 2027 product revenue outlook.

IBM ( IBM ) and Red Hat have committed $5 billion toward a software protection program named Project Lightwell, the companies said. IBM ( IBM ) stock was up more than 2% pre-bell.

Synopsys ( SNPS ) shares were down more than 1% after the company posted a decline in fiscal Q2 non-GAAP earnings.