Tech stocks were mixed Wednesday afternoon, with the Technology Select Sector SPDR Fund (XLK) rising 0.6% and the SPDR S&P Semiconductor ETF (XSD) decreasing 0.2%.

The Philadelphia Semiconductor index added 0.5%.

In corporate news, Paychex (PAYX) reported fiscal Q4 revenue that missed Wall Street estimates, while the company issued an upbeat outlook for the current year. The shares fell 8.3%.

Apple (AAPL) plans to make changes to its App Store to satisfy EU regulators that issued an ultimatum to the tech giant as well as a $581.1 million fine, Bloomberg reported Wednesday. Apple shares were up 0.4%.

Intel (INTC) is laying off more than 100 employees in California and shutting down its automotive chip unit as part of broader cost-cutting and restructuring measures, media outlets reported, citing company filings. Intel shares were retreating 1.6%.

Bumble (BMBL) said Wednesday its board approved a 30% cut to its global workforce, or around 240 roles. Its shares surged 21%.