09:09 AM EDT, 04/20/2026 (MT Newswires) -- Technology stocks were leaning lower premarket Monday, with the State Street Technology Select Sector SPDR Fund (XLK) down 0.2% and the State Street SPDR S&P Semiconductor ETF (XSD) declining by 0.8%.

Alphabet's (GOOG, GOOGL) Google is negotiating with Marvell Technology (MRVL) to develop two new processors optimized for artificial intelligence inference tasks, The Information reported, citing two people with knowledge of the discussions. Shares of Marvell Technology were up more than 5% pre-bell.

Meta Platforms (META) plans to initiate its layoffs planned for this year on May 20, with more expected to come later, Reuters reported, citing people familiar with the matter. Meta Platforms shares were down 0.7% premarket.

Parsons (PSN) said the Los Angeles Department of Water and Power selected the company to provide demand response technology, integration, and services. Parsons stock was 0.2% lower pre-bell.