04:00 PM EDT, 06/25/2025 (MT Newswires) -- Tech stocks were advancing late Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 0.7% and the SPDR S&P Semiconductor ETF (XSD) up 0.1%.

The Philadelphia Semiconductor index added 0.7%.

In corporate news, Microsoft ( MSFT ) is being sued by a group of authors for alleged use of their books without permission to train its Megatron AI model, Reuters reported, citing a complaint filed in New York federal court Tuesday. Microsoft ( MSFT ) was up 0.3%.

Paychex ( PAYX ) reported fiscal Q4 revenue that missed Wall Street estimates, while the company issued an upbeat outlook for the current year. The shares fell 9.7%.

Apple ( AAPL ) plans to make changes to its App Store to satisfy EU regulators that issued an ultimatum to the tech giant as well as a $581.1 million fine, Bloomberg reported Wednesday. Apple ( AAPL ) shares were up 0.5%.

Intel ( INTC ) is laying off more than 100 employees in California and shutting down its automotive chip unit as part of broader cost-cutting and restructuring measures, media outlets reported, citing company filings. Intel ( INTC ) shares were retreating 1.4%.

Bumble (BMBL) said its board approved a 30% cut to its global workforce, or around 240 roles. Its shares surged 24%.