-- Tech stocks were mixed late Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) fractionally lower and the State Street SPDR S&P Semiconductor ETF (XSD) rising 2.1%.
The Philadelphia Semiconductor index increased 0.3%.
In corporate news, Okta (OKTA) shares gained 4.8% after Barclays upgraded the stock to overweight from equalweight with a price target of $85 per share.
Alphabet's (GOOGL) Google has built a strike team of engineers and researchers to enhance its AI coding models, The Information reported. Alphabet was down 1.2%.
Google is negotiating with Marvell Technology (MRVL) to develop two new processors optimized for AI inference tasks, The Information reported. Marvell shares climbed nearly 7%.
Meta Platforms (META) plans to initiate its planned layoffs for this year on May 20, and more cuts are expected later, Reuters reported. Meta shares fell 2.5%.