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Last Update: 13-Feb-13 10:38 ET
S&P Information Technology Index +0.3% trading higher today, along with the broader market
The tech sector is trading higher today, along with gains in the broader market. Semiconductors are showing relative strength as well with the SOX trading 0.5% higher. Within the chip index, WFR (+5.7%) is a notable standout. Among other major indices, the SPY is trading 0.4% higher today, while the QQQ is up 0.7% and the NASDAQ is trading 0.6% higher on the session. Among tech bellwethers, FB (+1.6%) is showing notable strength, while QCOM (-0.4%) is lagging.
In tech earnings last night, NTGR (-7.2%) posted an inline qtr and guided lower, RAX (-16.0%) reported a modest miss, LPSN (-4.8%) reported a slight beat and guided just below consensus, RKUS (-14.6%) posted a solid beat but guided shy of consensus, and RATE (-18.9%) missed qtrly and forward ests. This morning, NICE (+0.8%) reported a mixed qtr and guided below consensus and VG (+6.6%) posted a slight beat. In news, CMCSA (+6.2%) announced plans to acquire GE's (+3.7%) 49% common equity ownership interest in NBCUniversal for approx. $16.7 bln, increased its dividend by 20% to $0.78 and announced plans to repurchase $2 billion of its stock in 2013. Among rumors, VOD (-1.4%) is planning on purchasing Kabel Deutschland, according to reports. Among notable analyst upgrades this morning in the tech space, GRPN (+5.3%) was upgraded to Buy at Sterne Agee, WU (+0.7%) was upgraded to at Credit Agricole and Compass Pt., PRO (+22.4%) was upgraded to Buy at Craig Hallum following earnings and CMCSA (+6.2%) was upgraded to Outperform at Credit Suisse. Among downgrades, Needham downgraded RKUS (-14.2%) to Hold, SAPE (-6.9%) was downgraded at Citigroup, First Analysis, and William Blair, CLWR (0.0%) was downgraded to Underperform at Raymond James and Stifel downgraded RAX (-16.0%) to Hold. AMAT (+0.4%), CTL (-0.3%), CSCO (+0.2%), IM (+0.3%), NTAP (-0.6%), and NVDA (+1.3%) are notable names in tech scheduled to report quarterly results today after the close.
In tech earnings last night, NTGR (-7.2%) posted an inline qtr and guided lower, RAX (-16.0%) reported a modest miss, LPSN (-4.8%) reported a slight beat and guided just below consensus, RKUS (-14.6%) posted a solid beat but guided shy of consensus, and RATE (-18.9%) missed qtrly and forward ests. This morning, NICE (+0.8%) reported a mixed qtr and guided below consensus and VG (+6.6%) posted a slight beat. In news, CMCSA (+6.2%) announced plans to acquire GE's (+3.7%) 49% common equity ownership interest in NBCUniversal for approx. $16.7 bln, increased its dividend by 20% to $0.78 and announced plans to repurchase $2 billion of its stock in 2013. Among rumors, VOD (-1.4%) is planning on purchasing Kabel Deutschland, according to reports. Among notable analyst upgrades this morning in the tech space, GRPN (+5.3%) was upgraded to Buy at Sterne Agee, WU (+0.7%) was upgraded to at Credit Agricole and Compass Pt., PRO (+22.4%) was upgraded to Buy at Craig Hallum following earnings and CMCSA (+6.2%) was upgraded to Outperform at Credit Suisse. Among downgrades, Needham downgraded RKUS (-14.2%) to Hold, SAPE (-6.9%) was downgraded at Citigroup, First Analysis, and William Blair, CLWR (0.0%) was downgraded to Underperform at Raymond James and Stifel downgraded RAX (-16.0%) to Hold. AMAT (+0.4%), CTL (-0.3%), CSCO (+0.2%), IM (+0.3%), NTAP (-0.6%), and NVDA (+1.3%) are notable names in tech scheduled to report quarterly results today after the close.
