Sector Update: Tech Stocks Lean Lower Premarket Friday

MT newswire2026/10/23 13:07

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09:07 AM EDT, 10/23/2026 (MT Newswires) -- Technology stocks were leaning lower premarket Friday, with the State Street Technology Select Sector SPDR Fund (XLK) down 0.4% and the State Street SPDR S&P Semiconductor ETF (XSD) marginally declining. Infosys (INFY) stock was down more than 8% after the company reported flat fiscal Q2 earnings that also missed analysts' expectations. RingCentral (RNG) shares were up more than 12% after the company reported higher Q3 adjusted earnings and revenue, and lifted its 2026 guidance. IQM Quantum Computers (IQMX) stock was up more than 3% after the company said it will create Madrid's first quantum computer alongside Telefonica (TEF), to be installed at the Universidad Politecnica de Madrid before the end of the year.

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