03:44 PM EST, 12/03/2024 (MT Newswires) -- Tech stocks were rising in late Tuesday afternoon trading, with the Technology Select Sector SPDR Fund (XLK) up 0.2% and the SPDR S&P Semiconductor ETF (XSD) adding 2%.

The Philadelphia Semiconductor index shed 0.5%.

In corporate news, Intel ( INTC ) is considering outside candidates to fill its vacant chief executive position, including Marvell Technology ( MRVL ) CEO Matt Murphy, Bloomberg reported. Pat Gelsinger retired as Intel ( INTC ) CEO effective Sunday. Intel ( INTC ) shares tumbled 6% and Marvell ( MRVL ) was down 0.9%.

Axon (AXON) shares popped 4.9% after Morgan Stanley upgraded the company's stock to overweight, with a $700 price target.

ZJK Industrial ( ZJK ) shares soared 206% after the company said Tuesday it expanded its collaboration with Nvidia (NVDA) into liquid cooling systems.

Palantir ( PLTR ) received FedRAMP "high authorization" for its cloud services, opening the door for more offerings to US government units. The shares jumped 7.3%.