03:47 PM EDT, 10/16/2024 (MT Newswires) -- Tech stocks rose late Wednesday afternoon with the Technology Select Sector SPDR Fund (XLK) up 0.2% and the SPDR S&P Semiconductor ETF (XSD) increasing 0.6%.

The Philadelphia Semiconductor index added 0.1%.

In corporate news, BlackBerry (BB) shares popped 5% after the company outlined plans to grow revenue and return to profitability and said it was exploring options for the Cylance business.

Silvaco ( SVCO ) shares plunged 32% after the company reported late Tuesday a cut in its 2024 sales guidance to $60 million to $63 million, from $63 million to $66 million previously.

ASML ( ASML ) shares tumbled nearly 7%, extending losses from Tuesday after fiscal Q3 results were accidentally published ahead of schedule and 2025 guidance trailed estimates.

Nokia ( NOK ) is in talks with Indian telecom company Bharti Airtel for a possible multibillion dollar contract to provide 5G telecom equipment, Reuters reported. Nokia ( NOK ) shares added 1.5%.