03:52 PM EDT, 04/20/2026 (MT Newswires) -- Tech stocks were mixed late Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) fractionally lower and the State Street SPDR S&P Semiconductor ETF (XSD) rising 2.1%.

The Philadelphia Semiconductor index increased 0.3%.

In corporate news, Okta ( OKTA ) shares gained 4.8% after Barclays upgraded the stock to overweight from equalweight with a price target of $85 per share.

Alphabet's (GOOGL) Google has built a strike team of engineers and researchers to enhance its AI coding models, The Information reported. Alphabet was down 1.2%.

Google is negotiating with Marvell Technology ( MRVL ) to develop two new processors optimized for AI inference tasks, The Information reported. Marvell ( MRVL ) shares climbed nearly 7%.

Meta Platforms ( META ) plans to initiate its planned layoffs for this year on May 20, and more cuts are expected later, Reuters reported. Meta shares fell 2.5%.