01:36 PM EDT, 06/10/2024 (MT Newswires) -- Tech stocks were higher Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) edging up 0.1% and the SPDR S&P Semiconductor ETF (XSD) gaining 1.6%.

The Philadelphia Semiconductor index rose 1.3%.

In corporate news, Cognizant Technology Solutions ( CTSH ) agreed to buy engineering research and development services firm Belcan, a portfolio company of AE Industrial Partners, in a cash-and-stock deal worth about $1.29 billion. Cognizant shares added 1.7%.