03:53 PM EDT, 05/03/2024 (MT Newswires) -- Tech stocks rose late Friday afternoon with the Technology Select Sector SPDR Fund (XLK) climbing 2.8% and the SPDR S&P Semiconductor ETF (XSD) adding 2.2%.

The Philadelphia Semiconductor index climbed 2.2%.

In corporate news, Sprout Social's ( SPT ) shares plunged 39% after KeyBanc downgraded the stock to sector weight from overweight, citing "disappointing" Q1 results.

OneSpan ( OSPN ) shares jumped 14% following better-than-expected Q1 results.

Marin Software ( MRIN ) shares tumbled 21%, a day after reporting Q1 results.

Apple's ( AAPL ) shares rose 6.4% after earnings and sales beat market expectations, and the company announced an additional share-buyback program of up to $110 billion.