Technology stocks pared a portion of their midday advance, with the Technology Select Sector SPDR Fund (XLK) late Tuesday rising 0.5% and the Philadelphia Semiconductor Index gaining 0.3%.

In company news, Unity Software (U) gained 2.4% amid reports Tuesday it plans to soon cut around 284 positions to better address current economic conditions, reduce duplicate positions resulting from its recent ironSource acquisition and adding to the 225 jobs the company eliminated in June.

United Microelectronics (UMC) rose 2.3%, a day after the chipmaker reported an increase in Q4 operating revenue to reach 67.84 billion New Taiwan dollars ($2.24 billion), up from NT$59.1 billion during the prior-year period and beating the Capital IQ consensus expecting NT$67.71 billion in revenue during the three months ended Dec. 31.

National Instruments (NATI) added nearly 11% after Emerson Electric (EMR) went public with a hostile takeover attempt for the scientific instruments and software company, offering $53 per share, up from a $48-per-share bid last year and exceeding National’s share price last week prior to beginning a review of its strategic options by 32%. Emerson shares were declining 8.3%.

Roblox (RBLX) rose nearly 12% after reporting an 18% increase in the number of its daily active users during December to 61.5 million. The company also said that hours users were engaged with its online gaming and entertainment platform rose by 21% over prior-year levels to 4.7 billion while estimated booking also grew as much as 20%, reaching a range of $430 million and $439 million last month.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.