03:42 PM EDT, 07/08/2024 (MT Newswires) -- Tech stocks were rising late Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) adding 0.6% and the SPDR S&P Semiconductor ETF (XSD) climbing 2.2%.

The Philadelphia Semiconductor Index gained 1.7%.

In corporate news, SolarEdge Technologies ( SEDG ) shares jumped past 10% as BofA Securities upgraded the company to neutral from underperform with a $29 price target.

Intapp ( INTA ) is facing headwinds that will likely lead to a growth slowdown and a less predictable business model, Oppenheimer said. The investment firm downgraded the company to perform from outperform and removed its $42 target. Intapp ( INTA ) shares slumped 3.8%.

Brookfield Infrastructure Partners ( BIP/PA )-backed (BIP) Data4 is mulling a $2 billion debt deal, Bloomberg reported Monday. Brookfield shares were fractionally lower.

KULR Technology ( KULR ) shares added 0.5% after it said it has been awarded a contract of more than $400,000 from NASA as part of a $2 million agreement for a battery cell screening system.