01:42 PM EDT, 05/06/2025 (MT Newswires) -- Tech stocks declined Tuesday afternoon, with the Technology Select Sector SPDR Fund (XLK) shedding 0.8% and the SPDR S&P Semiconductor ETF (XSD) falling 1.7%.

The Philadelphia Semiconductor index fell 1.2%.

In corporate news, Palantir ( PLTR ) raised its full-year guidance as it recorded Q1 revenue above market expectations, though earnings were in line with estimates, while the software maker issued an upbeat sales outlook for the ongoing three-month period. Its shares were falling 13%.