01:34 PM EDT, 04/15/2024 (MT Newswires) -- Tech stocks were decreasing Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) dropping 1.4% and the SPDR S&P Semiconductor ETF (XSD) down 1.5%.

The Philadelphia Semiconductor Index shed 1.3%.

In corporate news, Blackbaud ( BLKB ) shares jumped past 3% after it said it will "carefully evaluate" Clearlake Capital's unsolicited, non-binding proposal to buy the company for $80 per share in cash.