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Last Update: 03-Apr-13 10:57 ET
S&P Information Technology Index (-0.1%) trading slightly lower today, just ahead of the broader ma
The tech sector is trading lower today, but ahead of larger losses in the broader market. Semiconductors are showing some weakness with the SOX trading 0.4% lower. Within the chip index, CREE (-2.3%) is a notable laggard. Among other major indices, the SPY is trading 0.4% lower today, while the QQQ is down 0.1% and the NASDAQ is trading 0.3% lower on the session. Among tech bellwethers, FB (+3.3%) is showing notable strength, this follows an SEC rule that allows public disclose on social media, while VZ (-0.9%) is under pressure.
In tech earnings, ATML (-0.9%) modestly raised guidance last night, along with announcing a CFO appointment. This morning, MSPD (-11.6%) lowered Q2 guidance. In news, ZNGA (+13.4%) announced ZyngaPlusPoker and ZyngaPlusCasino launching for UK players; the co's first real money games. GLUU (+3.3%) is also trading higher on the news. Elsewhere, VZ (-0.9%) disclosed it is a willing purchaser of the 45% stake VOD (-3.8%) holds in VZW, but does not have any intention to merger with or make an offer for VOD. Among rumors, CVLT (-1.0%) takeover speculation was discussed in a Bloomberg M&A story. Also, strength in NIHD (+20.1%) is being attributed to reports that Nextel Peru sale has been finalized. Among notable analyst upgrades this morning in the tech space, FBR upgraded ATML (-0.9%) to Outperform and SWI (+1.5%) upgraded to Equal-Weight at Morgan Stanley. Among downgrades, LLTC (-0.1%) was downgraded to Neutral at Longbow and Stifel downgraded SQI (-4.6%) to Hold. There are no notable names in tech scheduled to report quarterly results today after the close.
In tech earnings, ATML (-0.9%) modestly raised guidance last night, along with announcing a CFO appointment. This morning, MSPD (-11.6%) lowered Q2 guidance. In news, ZNGA (+13.4%) announced ZyngaPlusPoker and ZyngaPlusCasino launching for UK players; the co's first real money games. GLUU (+3.3%) is also trading higher on the news. Elsewhere, VZ (-0.9%) disclosed it is a willing purchaser of the 45% stake VOD (-3.8%) holds in VZW, but does not have any intention to merger with or make an offer for VOD. Among rumors, CVLT (-1.0%) takeover speculation was discussed in a Bloomberg M&A story. Also, strength in NIHD (+20.1%) is being attributed to reports that Nextel Peru sale has been finalized. Among notable analyst upgrades this morning in the tech space, FBR upgraded ATML (-0.9%) to Outperform and SWI (+1.5%) upgraded to Equal-Weight at Morgan Stanley. Among downgrades, LLTC (-0.1%) was downgraded to Neutral at Longbow and Stifel downgraded SQI (-4.6%) to Hold. There are no notable names in tech scheduled to report quarterly results today after the close.
