Information technology stocks advanced over 2% at midday Monday, after the US announced a temporary exemption for consumer electronics such as smartphones from the recently announced tariffs.

US stocks are expected to extend a rally on Monday, with the tech-heavy Nasdaq composite index anticipated to open more than 1% higher.

Norwood Systems (ASX:NOR) reported the completion and delivery of a high-level design architecture, along with comprehensive documentation and detailed specifications, as part of a recently secured telecommunications contract.

On the flip side, the communication services sector was one of the only two sectors trading in the red, falling just 0.2%.

Streamplay Studio (ASX:SP8) said Noodlecake Studios, following its acquisition effective Jan. 1, banked around AU$1.38 million in receipts during the first quarter. It booked an unaudited quarterly revenue of AU$2.7 million.