EmailStory Stocks®
Archive
Last Update: 20-Dec-12 10:53 ET
S&P Information Technology Index (-0.2%) trading lower today, trailing the broader market
The tech sector is trading lower today, behind slight gains in the broader market. Semiconductors are showing relative weakness as well with the SOX trading 0.5% higher. Within the chip index, AMD (-2.8%) is a notable laggard. Among other major indices, the SPY is trading 0.1% higher today, while the QQQ is down 0.3% and the NASDAQ is trading 0.1% lower on the session. Among tech bellwethers, GOOG (+0.4%) is showing notable strength, while INTC (-0.6%) is under pressure.
In tech earnings last night, JBL (+7.0%) reported a Q1 beat and guided just below consensus. Elsewhere, ACN (-3.6%) posted a slight beat and raise, while PAYX (-1.5%) reported a slight miss and reaffirmed guidance. In news, ORCL (+0.2%) will acquire ELOQ (+31.1%), a provider of cloud-based marketing automation and revenue performance mgmt software, for $23.50/share. ET (+6.7%) is up on sympathy. Also, ARRS (+4.9%) will acquire GOOG's (+0.4%) Motorola Home Business for $2.35 bln in cash and stock. It's expected to be significantly accretive to ARRIS' Non-GAAP earnings starting in the first full year after closing. In notable analyst upgrades this morning in the tech space, FLIR (+1.8%) was upgraded to Buy at Sterne Agee. Among downgrades, Hudson Securities downgraded RIMM (+1.0%) to Hold and ARRS (+5.0%) was downgraded to Hold at Jefferies. MU (-1.2%), RHT (+0.4%), TIBX (-1.1%), and RIMM (+1.0%) are the notable names in tech scheduled to report quarterly results today after the close.
In tech earnings last night, JBL (+7.0%) reported a Q1 beat and guided just below consensus. Elsewhere, ACN (-3.6%) posted a slight beat and raise, while PAYX (-1.5%) reported a slight miss and reaffirmed guidance. In news, ORCL (+0.2%) will acquire ELOQ (+31.1%), a provider of cloud-based marketing automation and revenue performance mgmt software, for $23.50/share. ET (+6.7%) is up on sympathy. Also, ARRS (+4.9%) will acquire GOOG's (+0.4%) Motorola Home Business for $2.35 bln in cash and stock. It's expected to be significantly accretive to ARRIS' Non-GAAP earnings starting in the first full year after closing. In notable analyst upgrades this morning in the tech space, FLIR (+1.8%) was upgraded to Buy at Sterne Agee. Among downgrades, Hudson Securities downgraded RIMM (+1.0%) to Hold and ARRS (+5.0%) was downgraded to Hold at Jefferies. MU (-1.2%), RHT (+0.4%), TIBX (-1.1%), and RIMM (+1.0%) are the notable names in tech scheduled to report quarterly results today after the close.
