Last Update: 25-Jan-13 11:15 ET
S&P Information Technology Index (+0.2%) trading higher today with the broader market
The tech sector is trading higher today, inline with slight gains in the broader market. Semiconductors are showing relative strength with the SOX trading 1.4% higher. Within the chip index, CRUS (+10.2%) is a notable standout. Among other major indices, the SPY is trading 0.2% higher today, while the QQQ and the NASDAQ are trading 0.4% higher on the session. Among tech bellwethers, EBAY (+2.2%) is showing notable strength. In another busy night in tech earnings, MSFT (+1.1%) posted an inline quarter, T (+0.6%) reported a mixed quarter, JNPR (+3.3%) and KLAC (+9.2%) posted quarterly beats, and SYNA (+18.4%) reported a big beat and raise. In news, T (+0.6%) will purchase $1.9 bln spectrum VZ (-0.3%). Among notable analyst upgrades this morning in the tech space, QLGC (+16.4%) was upgraded to Equal-Weight at Morgan Stanley, KLAC (+9.2%) was upgraded to Hold at Deutsche Bank, NTES (+2.9%) was upgraded to Buy at UBS, EBAY (+2.2%) was upgraded to Outperform at Bernstein and SGI (+9.7%) was upgraded to Buy at Sterne Agee. Also, ADSK (+4.9%) was added to the Conviction Buy List at Goldman, while ORCL (+0.8%) was removed. Among downgrades, FLEX (-5.6%) was downgraded at UBS, Raymond James and Longbow, and OTEX (-2.8%) was downgraded to Underperform at Credit Suisse.
The tech sector is trading higher today, inline with slight gains in the broader market. Semiconductors are showing relative strength with the SOX