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Last Update: 22-Feb-13 12:20 ET
S&P Information Technology Index (+0.72%) is trading higher today, slightly above the S&P 500
The tech sector is trading higher, just above narrower gains in the broader market. Among other major indices, the SPY (+0.55%) is trading higher, as it the QQQ (+0.53%), while the NASDAQ is trading 0.51% higher on the session. Among tech bellwethers, HPQ (+10.06%) is sharply higher and INFY (+4.24%) and TXN (+4.59%) are seeing strong gains. FB (-0.91%) is down slightly.
In tech earnings this morning a number of stocks are trading notably higher. WBMD (+22.21%) missed on the bottom line but provided Q1 and FY13 revenue guidance ahead of expectations. BLOX (+16.45%) and ARUN (+20.86%) also beat analyst estimates. HPQ (+10.06%) reported Q1 earnings of $0.82 per share, $0.011 ahead of the Capital IQ Consensus estimate, and revenues of $28.36 bln. The company also provided upside Q2 guidance. Other gainers include FIRE (+14.72%), AVG (+13.25%), NVTL (+6.7%), and ET (+4.21%). CLGX (-6.48%), DMRC (-6.88%), IL (-2.00%) and NPTN (-4.63%) are trading lower following earnings. In news, ZNGA (+5.91%) and GLUU (+5.94%) are higher on the signing of an online gambling bill into law in Nevada. ALVR (-8.86%) sold its broadband wireless access division to Telrad Networks for $6.1 mln. EBIX (-9.07%) is also lower despite defending the quality of its financial reports. Among rumors, Akamai Tech (AKAM +-1.13%) and SanDisk (SNDK +0.26%) were mentioned in M&A chatter. Ruckus Wireless (RKUS +12.08%) is also up on rumors that the company won a new contract (note: peer Aruba Networks also reported a strong quarter and is up over 20%). Companies trading higher after analyst upgrades include MRVL (+1.96%), which was upgraded to Buy from Hold at Craig Hallum, and SWKS (+3.12%) which was upgraded to Overweight from Equal Weight at a boutique firm. RFMD (+2.60%) and (TSS +2.27%) were also upgraded. Among downgrades, PAY (+4.28%) was downgraded to Hold from Buy and BBRY (-3.17%) was downgraded at MKM Partners. No tech companies are scheduled to report earnings today after the close or before the open Monday.
In tech earnings this morning a number of stocks are trading notably higher. WBMD (+22.21%) missed on the bottom line but provided Q1 and FY13 revenue guidance ahead of expectations. BLOX (+16.45%) and ARUN (+20.86%) also beat analyst estimates. HPQ (+10.06%) reported Q1 earnings of $0.82 per share, $0.011 ahead of the Capital IQ Consensus estimate, and revenues of $28.36 bln. The company also provided upside Q2 guidance. Other gainers include FIRE (+14.72%), AVG (+13.25%), NVTL (+6.7%), and ET (+4.21%). CLGX (-6.48%), DMRC (-6.88%), IL (-2.00%) and NPTN (-4.63%) are trading lower following earnings. In news, ZNGA (+5.91%) and GLUU (+5.94%) are higher on the signing of an online gambling bill into law in Nevada. ALVR (-8.86%) sold its broadband wireless access division to Telrad Networks for $6.1 mln. EBIX (-9.07%) is also lower despite defending the quality of its financial reports. Among rumors, Akamai Tech (AKAM +-1.13%) and SanDisk (SNDK +0.26%) were mentioned in M&A chatter. Ruckus Wireless (RKUS +12.08%) is also up on rumors that the company won a new contract (note: peer Aruba Networks also reported a strong quarter and is up over 20%). Companies trading higher after analyst upgrades include MRVL (+1.96%), which was upgraded to Buy from Hold at Craig Hallum, and SWKS (+3.12%) which was upgraded to Overweight from Equal Weight at a boutique firm. RFMD (+2.60%) and (TSS +2.27%) were also upgraded. Among downgrades, PAY (+4.28%) was downgraded to Hold from Buy and BBRY (-3.17%) was downgraded at MKM Partners. No tech companies are scheduled to report earnings today after the close or before the open Monday.
