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Last Update: 26-Feb-13 10:49 ET
S&P Information Technology Index (+0.1%) trading just higher today along with the broader market
The tech sector is trading slightly higher today, inline with gains in the broader market. Semiconductors are showing relative strength, however, with the SOX trading 0.4% higher. Within the chip index, INTC (+2.3%) is a notable standout. Among other major indices, the SPY is trading 0.2% higher today, while the QQQ is down 0.1% and the NASDAQ is trading 0.05% higher on the session. Among tech bellwethers, INTC (+2.3%) is showing notable strength, while FB (-1.0%) is under pressure. In tech earnings last night, MELI (-1.4%) posted mixed Q4 results, while ADSK (+2.2%) reported a Q4 beat and offered mixed guidance. This morning, SPRD (+0.2%) posted a beat and guided above consensus, PCS (-0.9%) posted an inline qtr and AMAT (+2.0%) reported mixed Q4 results. In news, AMAT (+2.0%) named Bob Halliday as its new CFO. Among rumors, GOOG (-0.1%) is concerned about Samsung's dominance of Android. Among notable analyst upgrades this morning in the tech space, Stifel upgraded SUPX (+9.2%) to Buy, SNDK (+2.3%) was upgraded to Outperform at RBC and GAME (+3.7%) was upgraded to Buy at Citigroup. Among downgrades, LSI (-0.8%) and ATML (-1.7%) were downgraded to Mkt Perform at FBR. AVGO (-0.2%) and VRSK (+0.4%) are a couple notable names in tech scheduled to report quarterly results today after the close.
The tech sector is trading slightly higher today, inline with gains in the broader market. Semiconductors are showing relative strength, however,