01:52 PM EDT, 08/30/2024 (MT Newswires) -- Tech stocks rose Friday afternoon with the Technology Select Sector SPDR Fund (XLK) adding 0.4% and the SPDR S&P Semiconductor ETF (XSD) gaining 0.9%.

The Philadelphia Semiconductor index climbed 1.4%.

In corporate news, Intel ( INTC ) is working with Morgan Stanley (MS) and Goldman Sachs (GS) on strategy, including the prospect of M&A deals or a split of businesses, Bloomberg reported. Intel ( INTC ) shares jumped 7.8%.

MongoDB ( MDB ) shares surged 17%. The company's fiscal Q2 results demonstrated "some stabilization" in operations after a "shaky" start to 2024 as management highlighted a rebound, Truist Securities said.

Dell (DELL) reported fiscal Q2 non-GAAP earnings late Thursday of $1.89 per diluted share, up from $1.74 a year earlier and above the Capital IQ consensus analyst estimate of $1.71. Separately, Dell is trying to sell SecureWorks ( SCWX ) again following previous failed attempts, Reuters reported. Dell shares rose 3.3%, and SecureWorks ( SCWX ) tumbled 5.8%.