01:51 PM EST, 12/18/2024 (MT Newswires) -- Tech stocks were higher Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) up 0.5% and the SPDR S&P Semiconductor ETF (XSD) climbing 1.6%.

The Philadelphia Semiconductor index rose 1.1%.

In corporate news, Jabil ( JBL ) shares jumped past 9% after the company reported a smaller-than-expected decline in fiscal Q1 revenue.

Gentex ( GNTX ) said Wednesday it has agreed to buy Voxx International ( VOXX ) in an all-cash deal expected to close in Q1 of 2025. Gentex ( GNTX ) shares rose 1.9%, while Voxx ( VOXX ) tumbled past 6%.

Sezzle ( SEZL ) shares sank more than 23% following a report by short-seller Hindenburg Research.