03:59 PM EDT, 09/10/2025 (MT Newswires) -- Tech stocks were higher late Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 1.6% and the SPDR S&P Semiconductor ETF (XSD) up 0.4%.

The Philadelphia Semiconductor index climbed 2.4%.

In corporate news, a US senator is calling on the Federal Trade Commission to investigate Microsoft ( MSFT ) in connection with a 2024 ransomware attack on health system operator Ascension, Bloomberg reported, citing a letter from the lawmaker. Microsoft ( MSFT ) shares were up 0.3%.

Oracle (ORCL) shares surged past 35% after the company overnight reported higher fiscal Q1 results and said its contract backlog will likely exceed half a trillion dollars amid strong demand over the coming months. Separately, Oracle Founder, Chair and Chief Technology Officer Larry Ellison has become the world's richest person as his fortune increased by $101 billion to $393 billion after the results, according to media reports.

Vimeo ( VMEO ) shares soared 60% after the company said Wednesday it has agreed to be acquired by Bending Spoons for $1.38 billion in cash.

Synopsys ( SNPS ) shares fell 36% after the company cut its full-year profit outlook, while its fiscal Q3 earnings unexpectedly fell year over year amid underperformance in its IP business.