Technology stocks were flat to lower premarket Tuesday as the SPDR S&P Semiconductor ETF (XSD) was inactive and the Technology Select Sector SPDR Fund (XLK) was down 0.7% recently.

GlobalFoundries (GFS) shares fell by over 7% after the company reported lower Q4 adjusted earnings and net revenue.

Leidos Holdings (LDOS) shares were up over 5% after the company reported higher fiscal Q4 non-GAAP earnings and revenue.

GDS Holdings (GDS) is looking into an initial public offering in the US of its GDS International business for about $500 million, Bloomberg News reported, citing unnamed people familiar with the matter. GDS Holdings shares were over 2% higher pre-bell.