03:56 PM EDT, 08/07/2024 (MT Newswires) -- Tech stocks were retreating late Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) down 0.8% and the SPDR S&P Semiconductor ETF (XSD) falling 2.2%.

The Philadelphia Semiconductor index fell 2.2%.

In corporate news, Diebold Nixdorf ( DBD ) shares jumped 10% after the company reported higher and stronger-than-expected adjusted earnings and net sales for Q2.

Fortinet ( FTNT ) shares surged nearly 27% after the company late Tuesday reported Q2 adjusted earnings and sales above market expectations and boosted its full-year 2024 guidance.

Super Micro Computer ( SMCI ) shares tumbled 20% after the company late Tuesday reported fiscal Q4 adjusted earnings that trailed analysts' estimates.

Payoneer Global ( PAYO ) shares jumped 22% after it posted Q2 results Wednesday that topped market expectations and raised its revenue outlook for 2024.