03:55 PM EDT, 04/03/2024 (MT Newswires) -- Tech stocks were advancing late Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) adding 0.3% and the SPDR S&P Semiconductor ETF (XSD) up 0.7%.

The Philadelphia Semiconductor index rose 0.2%.

In corporate news, Alphabet's (GOOG) Waymo autonomous driving subsidiary and Uber's ( UBER ) Uber Eats said Wednesday they have launched a delivery service in Phoenix. Alphabet shares added 0.3% and Uber ( UBER ) was down 0.3%.

Intel ( INTC ) officials said the company's chip foundry business suffered a 2023 operating loss of $7 billion on sales of $18.9 billion, widening from a loss of $5.2 billion on $27.5 billion in sales a year earlier, news outlets reported. Intel ( INTC ) shares sank 8%.

Casa Systems ( CASA ) shares plunged more than 77% after it said Wednesday it has begun a court-supervised Chapter 11 sale of its businesses. The company said that it has reached agreements to sell its 5G mobile core and RAN assets to Lumine and its cable business to Vecima Networks.

Spotify ( SPOT ) plans to increase subscription prices in five countries, including the UK, Australia and Pakistan, by $1 to $2 per month by the end of April, Bloomberg reported Wednesday. Spotify ( SPOT ) shares spiked 8.2%.