Sector Update: Tech Stocks Gain Tuesday Afternoon
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Tech stocks rose Tuesday afternoon with the Technology Select Sector SPDR Fund (XLK) climbing 0.5% and the SPDR S&P Semiconductor ETF (XSD) jumped 2.9%.
The Philadelphia Semiconductor index added 1.5%.
In corporate news, Intel 
INTC shares jumped 11% after the Wall Street Journal reported Saturday that Taiwan Semiconductor Manufacturing 
2330 and Broadcom 
AVGO are considering pitching deals to buy separate pieces of Intel. Taiwan Semiconductor shares fell 1%, and Broadcom dropped 2.2%.
Blackbaud 
BLKB shares dropped 11% after the company issued 2025 guidance that trailed estimates by analysts.
Baidu 
BIDU shares declined 7.6% after the company reported lower Q4 non-GAAP earnings and revenue.