02:03 PM EDT, 05/30/2024 (MT Newswires) -- Tech stocks were mixed in Thursday afternoon trading with the Technology Select Sector SPDR Fund (XLK) falling 1.7% and the SPDR S&P Semiconductor ETF (XSD) up 0.8%.

The Philadelphia Semiconductor index fell 0.2%.

In corporate news, Salesforce ( CRM ) shares tumbled 22% after fiscal Q2 guidance trailed estimates by analysts.

UiPath ( PATH ) shares tumbled 34% as analysts downgraded the stock after the company cut fiscal 2025 revenue guidance and the chief executive officer resigned.

Credo Technology ( CRDO ) shares jumped 22%, a day after the fiscal Q4 earnings beat.