The tech sector is trading higher today, just ahead of gains in the broader market. Semiconductors are showing relative strength with the SOX trading 0.5% higher. Within the chip index, SPRD (+4.5%) is a notable standout. Among other major indices, the SPY is trading 0.2% higher today, while the QQQ and the NASDAQ are trading 0.3% higher on the session. Among tech bellwethers, FB (+4.7%) is showing strength, while INTC (-0.6%) is showing weakness.
In tech earnings last night, JDSU (+8.5%) reported a better-than-expected quarter and guided inline. In news, LLNW (+6.3%) and AKAM (+3.2%) are trading higher on reports that T (-0.5%) is shutting down its Content Delivery Network, potentially re-selling AKAM or LLNW services.
Among notable analyst upgrades this morning in the tech space, JIVE (+3.0%) was upgraded to Outperform at Baird. In downgrades, VOD (-1.2%) was downgraded to Neutral at BofA/Merrill and OCZ (-6.6%) was downgraded to Neutral at Sterne Agee. A (-0.9%), AMAT (+1.1%), CSCO (+0.8%), and NTAP (+2.9%) is the only notable name in tech scheduled to report quarterly results today after the close.






