01:31 PM EDT, 09/12/2024 (MT Newswires) -- Tech stocks were mixed Thursday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 0.8% and the SPDR S&P Semiconductor ETF (XSD) shedding 0.2%.

The Philadelphia Semiconductor index was up 0.1%.

In corporate news, Microsoft ( MSFT ) Chief Executive Satya Nadella told company employees Thursday that Carolina Dybeck Happe is joining the company as executive vice president and chief operating officer. Separately, Microsoft ( MSFT ) is downsizing its Xbox division by cutting 650 jobs as it integrates its $69 billion Activision Blizzard acquisition, Bloomberg reported Thursday. Microsoft ( MSFT ) shares were adding 0.2%.