02:19 PM EDT, 08/09/2024 (MT Newswires) -- Tech stocks were mixed Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 0.5% and the SPDR S&P Semiconductor ETF (XSD) 0.3% lower.

The Philadelphia Semiconductor index was down 0.2%.

In corporate news, Akamai ( AKAM ) shares jumped past 11% after the company reported higher Q2 non-GAAP earnings and sales, beating market expectations, and raised its 2024 non-GAAP EPS guidance.

Cisco Systems (CSCO) will eliminate thousands of jobs in a second workforce cut this year as the company realigns its focus on high-growth sectors including cybersecurity and artificial intelligence, Reuters reported. Cisco shares were shedding 0.3%.

Take-Two Interactive Software (TTWO) reported a wider-than-expected loss for its fiscal Q1 while the video game publisher maintained its full-year bookings outlook as it expects the key metric to grow sequentially in the ongoing three-month period. Its shares rose 2.9%.