02:01 PM EDT, 05/16/2024 (MT Newswires) -- Tech stocks were higher Thursday afternoon, with the Technology Select Sector SPDR Fund (XLK) edging up 0.1% and the SPDR S&P Semiconductor ETF (XSD) gaining 0.2%.

The Philadelphia Semiconductor index rose 0.4%.

In corporate news, Synopsys' ( SNPS ) planned acquisition of Ansys ( ANSS ) is facing regulatory scrutiny in China, the companies said in separate filings. The proposed deal values Ansys ( ANSS ) at about $35 billion in cash and stock. Synopsys ( SNPS ) shares fell 1.5% and Ansys ( ANSS ) was down 0.4%.

Alphabet-owned (GOOG) Google's ( GOOG ) potential deal to license its Gemini generative artificial intelligence for iPhones may be featured at Apple's ( AAPL ) Worldwide Developers Conference in June, UBS Securities said in a report. Alphabet shares added 0.8% and Apple ( AAPL ) was up 0.2%.

Cisco ( CSCO ) reported fiscal Q3 earnings and sales that beat market expectations while raising its full-year revenue guidance range. Its shares were falling 2.6%.