EmailStory Stocks®
Archive
Last Update: 17-Jan-13 11:03 ET
S&P Information Technology (+0.3%) trading higher today, along with the broader market
The tech sector is trading higher today, inline with gains in the broader market. Semiconductors are showing relative strength, however, with the SOX trading 1.3% higher. Within the chip index, KLAC (+5.4%) is a notable standout. Among other major indices, the SPY is trading 0.5% higher today, while the QQQ and the NASDAQ are trading 0.4% higher on the session. Among tech bellwethers, TXN (+1.4%) is showing notable strength, while CSCO (-0.6%) is under pressure.
In tech earnings last night, EBAY (+2.6%) posted slightly better-than-expected Q4 results and guided just below consensus. Meanwhile, PLXS (+1.4%) and ASML (+6.4%) reported results in-line with expectations, whereas NTCT (-4.4%) topped consensus and APH (0.0%) missed estimates. In news, A (+1.7%) authorized the repurchase of up to $500 mln of stock and increased its quarterly dividend 20% to $0.12 per share from $0.10 per share. Among rumors, Silver Lake is close to $15 bln financing for DELL (+1.2%) LBO, according to reports. Among notable analyst upgrades this morning in the tech space, JNPR (+1.6%) and INFN (+6.4%) were upgraded to Overweight at JP Morgan, ADTN (-4.6%) was upgraded to Neutral at Citigroup, and ASML (+6.5%) was upgraded to Buy at BofA/Merrill. Among downgrades, ITRI (-1.4%) was downgraded to Hold at Jefferies, SAP (-0.6%) was downgraded to Neutral at Citigroup, CSCO (-0.7%) was downgraded to Underweight at JP Morgan, INFA (-2.1%) was downgraded to Neutral at Wedbush, LEAP (-6.3%) was downgraded to Underperform at Jefferies and RBC downgraded GLW (-1.4%) to Sector Perform. INTC (+1.1%), XLNX (+1.1%), and WIT (+2.2%) are the notable names in tech scheduled to report quarterly results today after the close.
In tech earnings last night, EBAY (+2.6%) posted slightly better-than-expected Q4 results and guided just below consensus. Meanwhile, PLXS (+1.4%) and ASML (+6.4%) reported results in-line with expectations, whereas NTCT (-4.4%) topped consensus and APH (0.0%) missed estimates. In news, A (+1.7%) authorized the repurchase of up to $500 mln of stock and increased its quarterly dividend 20% to $0.12 per share from $0.10 per share. Among rumors, Silver Lake is close to $15 bln financing for DELL (+1.2%) LBO, according to reports. Among notable analyst upgrades this morning in the tech space, JNPR (+1.6%) and INFN (+6.4%) were upgraded to Overweight at JP Morgan, ADTN (-4.6%) was upgraded to Neutral at Citigroup, and ASML (+6.5%) was upgraded to Buy at BofA/Merrill. Among downgrades, ITRI (-1.4%) was downgraded to Hold at Jefferies, SAP (-0.6%) was downgraded to Neutral at Citigroup, CSCO (-0.7%) was downgraded to Underweight at JP Morgan, INFA (-2.1%) was downgraded to Neutral at Wedbush, LEAP (-6.3%) was downgraded to Underperform at Jefferies and RBC downgraded GLW (-1.4%) to Sector Perform. INTC (+1.1%), XLNX (+1.1%), and WIT (+2.2%) are the notable names in tech scheduled to report quarterly results today after the close.
