01:31 PM EDT, 06/16/2026 (MT Newswires) -- Tech stocks were lower Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1.8% and the State Street SPDR S&P Semiconductor ETF (XSD) down 3.4%.

The Philadelphia Semiconductor index declined 3.4%.

In corporate news, Marvell Technology ( MRVL ) shares fell 5.3% in Tuesday trading, a day after outgoing CFO Willem Meintjes filed to sell 211,329 shares, according to Form 144 filings with the US Securities and Exchange Commission.

Space Exploration Technologies ( SPCX ) has agreed to acquire Anysphere, which operates AI coding agent Cursor, in a deal worth about $60 billion, just days after the rocket and satellite company went public. SpaceX shares jumped past 10%.

Palantir ( PLTR ) is facing scrutiny after data showed most UK National Health Service platform gains occurred in just a few hospital trusts, the Financial Times reported, citing data obtained by the campaign group Foxglove through a freedom-of-information request. Palantir ( PLTR ) shares were falling 2.8%.

Simulations Plus ( SLP ) has agreed to be acquired by affiliates of Altaris in an all-cash deal valued at $375 million, the company said Tuesday. Simulations Plus ( SLP ) shares surged 11%.