Tech stocks were higher Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 1.1% and the SPDR S&P Semiconductor ETF (XSD) adding 2.6%.
The Philadelphia Semiconductor index climbed 2.9%.
In corporate news, Intel (INTC) Chief Executive Pat Gelsinger retired, and Chief Financial Officer David Zinsner and Michelle Johnston Holthaus, who previously served as general manager of the client computing group, were named interim co-CEOs while the board searches for a new leader. Intel shares were rising 1.7%.
Super Micro Computer (SMCI) shares surged past 28%. The company said Monday that an independent special committee found no evidence of misconduct or fraud on the part of management or the board of directors.
MicroStrategy (MSTR) said Monday in a filing with the US Securities and Exchange Commission that it acquired about 15,400 bitcoins for $1.5 billion between Nov. 25 and Dec. 1. Its shares were down 1.3%.
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