03:26 PM EDT, 08/30/2024 (MT Newswires) -- Tech stocks rose late Friday afternoon with the Technology Select Sector SPDR Fund (XLK) adding 0.8% and the SPDR S&P Semiconductor ETF (XSD) gaining 1.4%.

The Philadelphia Semiconductor index climbed 2%.

In corporate news, Elastic (ESTC) shares plunged past 27%. The company reported disappointing fiscal Q1 results after a "poorly managed sales segmentation change" that led to fewer contracted commitments, Oppenheimer said in a note to clients.