01:42 PM EDT, 03/13/2025 (MT Newswires) -- Tech stocks were mixed Thursday afternoon, with the Technology Select Sector SPDR Fund (XLK) falling 2.1% and the SPDR S&P Semiconductor ETF (XSD) up 1.4%.

The Philadelphia Semiconductor index dropped 1.3%.

In corporate news, Intel ( INTC ) shares jumped about 14% after the company said late Wednesday it named semiconductor industry veteran Lip-Bu Tan as its new chief executive, effective March 18.