Technology stocks were trading higher premarket Thursday. The Technology Select Sector SPDR ETF (XLK) and the iShares PHLX Semiconductor ETF (SOXX) were recently gaining almost 1% in value.
Dell Technologies (DELL) was climbing past 8% after announcing plans to spin-off its 81% stake in VMware (VMW), forming two standalone public companies.
Vishay Intertechnology (VSH) was rallying past 4% as the company raised its Q1 revenue guidance to approximately $765 million from previous guidance of $705 to $745 million.
Taiwan Semiconductor Manufacturing (TSM) was up more than 1% after it reported Q1 earnings of NT$5.39 per share, or $0.96 per American depositary receipt. A year ago, it posted EPS of NT$4.51. Analysts polled by Capital IQ projected EPS of NT$5.24, or $0.92 per ADR.