01:53 PM EST, 12/05/2024 (MT Newswires) -- Tech stocks were declining Thursday afternoon, with the Technology Select Sector SPDR Fund (XLK) decreasing 0.6% and the SPDR S&P Semiconductor ETF (XSD) falling 1.2%.

The Philadelphia Semiconductor index dropped 1.8%.

In corporate news, Synopsys ( SNPS ) shares tumbled 12% as it issued a downbeat full-year revenue outlook despite reporting fiscal Q4 results above Wall Street's expectations.

IonQ ( IONQ ) shares jumped 7.3% after the company delivered its first data center-deployable IonQ Forte Enterprise quantum computer in Europe.

ZSpace ( ZSPC ) shares debuted on Nasdaq with an opening price of $5.80, above the initial public offering price of $5. The shares were up 260% in recent trading.