Technology stocks were advancing pre-bell Tuesday, as the Technology Select Sector SPDR Fund (XLK) and the iShares Semiconductor ETF (SOXX) were both rising more than 1%.
Ouster (OUST) was climbing more than 3% and Cyngn (CYN) was increasing more than 10% after the companies said they have entered into a strategic customer agreement to add Ouster’s new REV7 digital lidar sensors to Cyngn’s DriveMod platform for material handling vehicles in 2023.
iQIYI (IQ) was increasing more than 3% after closing a $500 million private placement of secured convertible senior notes to PAGAC IV-1 (Cayman), an affiliate of investment firm PAG.
Planet Labs (PL) was rising about 1.2% as it plans to launch 36 SuperDove imaging satellites aboard a SpaceX Falcon 9 rocket.
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