01:59 PM EST, 01/23/2025 (MT Newswires) -- Tech stocks fell Thursday afternoon with the Technology Select Sector SPDR Fund (XLK) down 0.3% and the SPDR S&P Semiconductor ETF (XSD) decreasing 0.2%.

The Philadelphia Semiconductor index shed 1%.

In corporate news, Electronic Arts ( EA ) shares slumped 17%, a day after the company reported preliminary fiscal Q3 net revenue of $1.88 billion, missing market expectations.

Alphabet's (GOOG) Fitbit unit agreed to pay a $12.25 million fine to resolve charges by the US Consumer Product Safety Commission that it failed to report properly a defect in its Ionic smartwatches that posed an unreasonable risk of injury for consumers. Alphabet shares fell 0.9%.

Evolv Technologies ( EVLV ) shares jumped 14% after the company said preliminary Q4 estimates showed more than 6,000 Evolv Express deployments globally with the activation of 470 new multiyear subscriptions.