01:57 PM EDT, 09/30/2024 (MT Newswires) -- Tech stocks were in the red Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) decreasing 0.3% and the SPDR S&P Semiconductor ETF (XSD) falling 1.3%.

The Philadelphia Semiconductor index dropped 1.5%.

In corporate news, EchoStar ( SATS ) agreed to sell its video distribution business, which includes Dish TV and Sling TV, to satellite TV provider DirecTV in a debt-exchange deal. EchoStar ( SATS ) shares tumbled 13%.

Alphabet's (GOOG) Google ( GOOG ) and Samsung have conspired to insulate Google's ( GOOG ) Play Store from competition, Epic Games alleged in a complaint filed Monday in the US District Court for the Northern District of California. Alphabet shares were up 0.3%.

Verizon (VZ) agreed to a $3.3 billion deal to give Vertical Bridge exclusive rights to lease, operate and manage thousands of its wireless communications towers across the US. Verizon shares were up 0.1%.