03:53 PM EDT, 05/11/2026 (MT Newswires) -- Tech stocks were higher late Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.3% and the State Street SPDR S&P Semiconductor ETF (XSD) climbing 3.5%.

The Philadelphia Semiconductor index added 2.5%.

In corporate news, Meta Platforms ( META ) is being sued by Santa Clara County, California, over allegations that it "knowingly facilitates and profits from billions of scam advertisements" on Facebook and Instagram, Bloomberg reported. Meta shares were down 1.7%.

Intel ( INTC ) shares rose 3.4% after the company and Apple (AAPL) reached a preliminary agreement under which the chipmaker will make some of the chips powering Apple devices, according to a Wall Street Journal report on Friday.

Monday.com ( MNDY ) lifted its full-year revenue outlook after the project management software company posted a surprise Q1 earnings gain. Its shares jumped 6.7%.

Palantir Technologies ( PLTR ) stock was down 1.1% after the company's external staff and other consultants were provided unrestricted entry to identifiable medical records by the UK's National Health Service, according to a Financial Times report citing an internal briefing note.