04:00 PM EDT, 10/07/2024 (MT Newswires) -- Tech stocks were falling late Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) down 0.7% and the SPDR S&P Semiconductor ETF (XSD) dropping 1%.

The Philadelphia Semiconductor index was shedding 0.3%.

In corporate news, Amazon.com's ( AMZN ) motion to dismiss an antitrust lawsuit brought by the Federal Trade Commission and several states was denied in part and granted in part by US District Judge John Chun in Seattle, court documents revealed Monday. Amazon ( AMZN ) shares were falling 3.1%.

Luokung Technology ( LKCO ) shares jumped 11% after it said Monday that it's now in compliance with Nasdaq's minimum bid price requirement for continued listing.

Super Micro Computer ( SMCI ) shares surged 17% after the company said it recently deployed over 100,000 graphics processing units in one quarter.

Algorhythm ( RIME ) shares soared 31% after the company said Monday it has been awarded a service contract from an unnamed major global beverage, food, and snack company.