01:50 PM EDT, 08/23/2024 (MT Newswires) -- Tech stocks gained Friday afternoon with the Technology Select Sector SPDR Fund (XLK) rising 1.3% and the SPDR S&P Semiconductor ETF (XSD) jumping 3%.

The Philadelphia Semiconductor index advanced 2.6%.

In corporate news, Workday (WDAY) shares jumped 12%, a day after the company reported fiscal Q2 results that topped estimates and reiterated its full-year subscription revenue outlook.

Ubiquiti's ( UI ) fiscal Q4 earnings rose as revenue growth in the enterprise technology segment drove an increase in consolidated sales. The shares popped 6.3%.

Intuit (INTU) shares tumbled 7.1%, a day after the company projected fiscal Q1 non-GAAP EPS of $2.33 to $2.38, trailing the Capital IQ consensus of $2.79.