01:24 PM EST, 12/04/2024 (MT Newswires) -- Tech stocks were higher Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 1.6% and the SPDR S&P Semiconductor ETF (XSD) adding 0.8%.

The Philadelphia Semiconductor index climbed 1.6%.

In corporate news, Marvell Technology ( MRVL ) shares surged nearly 24%. The company issued an upbeat fiscal Q4 earnings outlook at the midpoint, while its results in the prior three-month period topped market estimates.