Sector Update: Tech Stocks Retreat Premarket Monday

Technology stocks were retreating premarket Monday. The Technology Select Sector SPDR ETF (XLK) was over 1.5% lower and the Semiconductor Sector Index Fund (SOXX) was slipping by almost 2% recently.

JinkoSolar Holding (JKS) said production at its manufacturing facilities in Sichuan have been temporarily affected after the Chinese province imposed rationing measures to ease power shortage in the area. JinkoSolar was down nearly 3% recently.

SkyWater Technology (SKYT) registered with the US Securities and Exchange Commission for the shelf offering of up to $250 million in various securities, according to a filing. SkyWater Technology shares were slipping past 3% recently.

Motorola Solutions (MSI) received a five-year contract extension valued at 60 million Australian dollars ($41.9 million) from Australia’s NSW Telco Authority to support New South Wales’ public safety network, the agency said. Motorola Solutions’ shares were up nearly 0.2% recently.