03:40 PM EDT, 03/21/2025 (MT Newswires) -- Tech stocks declined late Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) and the SPDR S&P Semiconductor ETF (XSD) each shedding 0.4%.

The Philadelphia Semiconductor index dropped 1.1%.

In corporate news, MicroAlgo ( VENAF ) shares fell 22% after the company said it would issue new shares at $0.80 apiece to repay debt.

Oracle (ORCL) and US investors in TikTok parent ByteDance are working on a deal to assure President Donald Trump that the app operates independently of Chinese control, the Financial Times reported. Oracle shares rose 0.3%.

Boeing ( BA ) has won a multibillion-dollar contract to design and build a fighter jet for the US Air Force, beating Lockheed Martin ( LMT ) , according to media reports. Lockheed shares fell past 5%, while Boeing ( BA ) climbed 3.5%.

Universal Electronics ( UEIC ) shares shed 2.9% after the company said Chief Executive Paul Arling will retire on April 30.