01:48 PM EST, 02/04/2025 (MT Newswires) -- Tech stocks were higher Tuesday afternoon, with the Technology Select Sector SPDR Fund (XLK) climbing 1.3% and the SPDR S&P Semiconductor ETF (XSD) rising 1.2%.

The Philadelphia Semiconductor index climbed 1%.

In corporate news, Palantir ( PLTR ) shares jumped more than 22% after the company reported late Monday higher Q4 adjusted earnings and revenue. Goldman Sachs adjusted Palantir's ( PLTR ) price target to $80 from $41.

China's State Administration for Market Regulation opened an antitrust probe into Alphabet's (GOOG) Google ( GOOG ) over suspected violations of the country's anti-monopoly law, according to media reports. Alphabet shares were rising 2.1%.

NXP Semiconductors ( NXPI ) issued a downbeat Q1 outlook at the midpoint after reporting better-than-expected results in the prior three-month period. Its shares were down 1.6% recently.