01:32 PM EST, 12/12/2024 (MT Newswires) -- Tech stocks were lower Thursday afternoon, with the Technology Select Sector SPDR Fund (XLK) decreasing 0.3% and the SPDR S&P Semiconductor ETF (XSD) shedding 0.8%.

The Philadelphia Semiconductor index fell 0.9%.

In corporate news, Adobe (ADBE) shares tumbled more than 13% after the company issued a fiscal Q1 revenue outlook and fiscal 2025 guidance that missed market expectations.