03:28 PM EDT, 04/22/2024 (MT Newswires) -- Tech stocks were gaining late Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) adding 1.1% and the SPDR S&P Semiconductor ETF (XSD) rising 2%.

The Philadelphia Semiconductor index advanced 1.9%.

In corporate news, activist investor Jana Partners urged Wolfspeed ( WOLF ) to explore ways to improve shareholder value, including a potential sale, Reuters reported Monday citing a letter it reviewed. Wolfspeed ( WOLF ) shares jumped 8.5%.