03:34 PM EDT, 06/05/2024 (MT Newswires) -- Tech stocks gained late Wednesday afternoon with the Technology Select Sector SPDR Fund (XLK) climbing 2% and the SPDR S&P Semiconductor ETF (XSD) jumping 3.4%.

The Philadelphia Semiconductor index surged 4.1%.

In corporate news, Guidewire Software ( GWRE ) shares gained past 18% after several analysts boosted their price targets on the stock, a day after the company reported fiscal Q3 earnings and revenue that topped estimates by analysts.