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Sector Update: Tech Stocks Advance Premarket Monday

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Technology stocks were advancing premarket Monday, with the State Street Technology Select Sector SPDR Fund (XLK) up 0.5% and the State Street SPDR S&P Semiconductor ETF (XSD) 1.4% higher.

LiveRamp (RAMP) agreed to be acquired by Publicis Groupe in an all-cash deal valued at about $2.17 billion, Publicis Groupe said. Shares of LiveRamp Holdings were up more than 27% pre-bell.

Baidu (BIDU) stock was up more than 4% after the company posted Q1 non-GAAP earnings and revenue that topped analysts' expectations.

IQIYI (IQ) shares were down more than 2% after the company reported that it swung to a Q1 non-GAAP net loss as revenue declined during the period.

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