01:49 PM EDT, 09/09/2024 (MT Newswires) -- Tech stocks were higher Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 1.6% and the SPDR S&P Semiconductor ETF (XSD) climbing 2.1%.

The Philadelphia Semiconductor index rose 2%.

In corporate news, Palantir Technologies ( PLTR ) shares jumped past 13% following late Friday's announcement of the stock's inclusion in the S&P 500 index.

Progress Software ( PRGS ) agreed to buy software-as-a-service document collaboration business ShareFile from Cloud Software for $875 million. Progress shares were falling 1.6%.

Edgio ( EGIO ) shares plunged past 80% after the company said Monday it has filed for Chapter 11 bankruptcy protection.