The tech sector is trading higher today, along with gains in the broader market. Semiconductors are showing relative strength with the SOX trading 1.5% higher. Within the chip index, NXPI (+3.6%) is a notable standout. Among other major indices, the SPY is trading 0.7% higher today, while the QQQ is up 0.6% and the NASDAQ is trading 0.7% higer on the session. Among tech bellwethers, TXN (+1.9%) is a leader, while FB (-2.5%) is showing notable weakness. In tech earnings, DTLK (-13.8%) and ZNGA (-18.3%) lowered Q3 guidance. Also, NXPI (+3.7%) reaffirmed Q3 guidance. In news, CSCO (+1.2%) announced Gary B. Moore and Rob Lloyd were promoted to President.
In notable analyst upgrades this morning in the tech space, FIS (+2.7%) was upgraded to Outperform at Robert W. Baird, ADP (+1.8%) was upgraded to Buy at Goldman, and INFA (+4.8%) was upgraded to Buy from Neutral at Nomura. Among downgrades, ZNGA (-18.3%) was downgraded to Neutral at Robert W. Baird, FFIV (-1.4%) & ADTN (-1.0%) were downgraded at Barclays, LLTC (+0.2%) was downgraded to Underperform at Raymond James, and HPQ (-0.2%) was downgraded at Sterne Agee and Argus.






