09:09 AM EDT, 09/10/2025 (MT Newswires) -- Technology stocks were rising pre-bell Wednesday, with The Technology Select Sector SPDR Fund (XLK) up 2.1% and the SPDR S&P Semiconductor ETF ( XSD ) 2% higher.

Oracle (ORCL) shares were up nearly 32% after the company reported higher fiscal Q1 results and said its contract backlog will likely exceed half a trillion dollars amid strong demand over the coming months.

Taiwan Semiconductor Manufacturing ( TSM ) stock was up more than 2% after the company said its net revenue for August rose to about $335.77 billion New Taiwan dollars ($11.08 billion), up nearly 34% from the same period a year earlier.

Synopsys ( SNPS ) shares were down more than 26% after the company posted fiscal Q3 results that missed Wall Street's estimates and cut its full-year earnings outlook. Synopsys ( SNPS ) also announced plans to reduce its headcount by 10%.