Technology stocks were advancing premarket Monday as the Technology Select Sector SPDR Fund (XLK) was up 0.4% and the SPDR S&P Semiconductor ETF (XSD) was 0.5% higher recently.

Honeywell International (HON) shares were up 2.3% after the company said it continues to consider strategic options to increase shareholder value, including the potential spinning off of its aerospace business, with an update to be part of its Q4 earnings report.

Trimble (TRMB) shares rose 1.5% after the company said it has agreed to collaborate with GroundProbe to allow geotechnical mine monitoring customers to acquire slope stability monitoring portfolio from a single point of contact.

Red Cat Holdings (RCAT) said Monday that it partnered with Palantir Technologies (PLTR) to integrate visual navigation software into Red Cat's Black Widow surveillance drones and deploy Warp Speed, Palantir's manufacturing operating system. Financial terms were not disclosed. Shares of Red Cat advanced 15% and Palantir dropped 0.6%.