03:52 PM EST, 03/06/2024 (MT Newswires) -- Tech stocks were higher late Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) adding 0.4% and the SPDR S&P Semiconductor ETF (XSD) jumping 2.1%.

The Philadelphia Semiconductor index climbed 2%.

In corporate news, JD.com ( JD ) shares surged 17% after Q4 results topped expectations and the company disclosed plans for a $3 billion share buyback.

Palantir Technologies ( PLTR ) shares gained 10% after the US Army awarded its Palantir USG unit a $178.4 million contract to lead in the development of 10 ground station Targeting Intelligence Targeting Access Node prototypes and related technology.

CrowdStrike ( CRWD ) shares jumped 10%, a day after the company reported that fiscal Q4 results more than doubled from a year earlier, beating estimates.

MicroStrategy ( MSTR ) shares surged 18% after the company priced an upsized offering of convertible notes.