01:26 PM EST, 02/12/2025 (MT Newswires) -- Tech stocks were lower Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) decreasing 0.4% and the SPDR S&P Semiconductor ETF (XSD) easing 0.1%.

The Philadelphia Semiconductor index shed 0.2%.

In corporate news, Confluent (CFLT) shares jumped 23% after several analysts raised their price targets on the stock following the company's forecast-beating Q4 results.