01:58 PM EDT, 08/04/2025 (MT Newswires) -- Tech stocks gained Monday afternoon with the Technology Select Sector SPDR Fund (XLK) and the SPDR S&P Semiconductor ETF (XSD) both rising around 2%.

The Philadelphia Semiconductor index advanced 1.7%.

In corporate news, Amphenol ( APH ) agreed to buy the connectivity and cable solutions business of CommScope ( COMM ) for $10.5 billion in cash. Amphenol ( APH ) shares rose 3.6%, and CommScope ( COMM ) surged 90%.

Spotify ( SPOT ) shares jumped past 6% after it said Monday that it's raising the price for its premium subscription in several markets across South Asia, the Middle East, Africa, Europe, Latin America, and the Asia-Pacific region.

Baidu ( BIDU ) shares added 1.4% after the company and Lyft (LYFT) said they plan to collaborate to deploy Baidu's ( BIDU ) Apollo Go autonomous vehicles in European markets via Lyft's platform. LYFT shares were up 4%.

ON Semiconductor (ON) shares fell past 12% after it reported lower fiscal Q2 non-GAAP earnings and sales.