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Last Update: 21-Aug-12 09:56 ET
S&P Information Technology Index (+0.2%) trading higher today in line with gains in the broader mark
The tech sector is trading higher today, inline with gains in the broader market. Semiconductors are showing relative weakness. Within the chip index, VECO (+3.3%) is a notable leader, while INTC (-0.1%) is a notable laggard.
Among other major indices, the SPY is trading 0.3% higher, and the QQQ and the NASDAQ are also trading 0.4% higher on the session. Among tech bellwethers, only AAPL (+1.2%) is showing strength.
In Earnings, TECD (-5.4%) missed Q2 EPS on higher than expected revenue, DAKT (+17.5%) beat on EPS and revenues, and TSL (+2.4%) missed on EPS and revenues and lowered its FY12 shipment guidance. In news, FB shares are trading lower nearly 3% after it was disclosed last night that Director Peter Thiel sold ~22 mln shares at prices ranging between $19.27-20.06/share.
Among notable analyst actions this morning in the tech space, BSFT (-1.2%) was initiated with a underperform at Raymond James. ARUN (+1.2%) was initiated with a Mkt Perform at Raymond James. CBR (-2.7%) was downgraded to a Neutral from Buy at Roth Capital. GRPN (-3.2%) was downgraded to Underweight from Equal Weight at Barclays.
DELL (+0.8%), QIHU (+6.8%), ADI (-0.1%), and INTU (-0.0%) are among notable names in tech scheduled to report quarterly results today after the close.
Among other major indices, the SPY is trading 0.3% higher, and the QQQ and the NASDAQ are also trading 0.4% higher on the session. Among tech bellwethers, only AAPL (+1.2%) is showing strength.
In Earnings, TECD (-5.4%) missed Q2 EPS on higher than expected revenue, DAKT (+17.5%) beat on EPS and revenues, and TSL (+2.4%) missed on EPS and revenues and lowered its FY12 shipment guidance. In news, FB shares are trading lower nearly 3% after it was disclosed last night that Director Peter Thiel sold ~22 mln shares at prices ranging between $19.27-20.06/share.
Among notable analyst actions this morning in the tech space, BSFT (-1.2%) was initiated with a underperform at Raymond James. ARUN (+1.2%) was initiated with a Mkt Perform at Raymond James. CBR (-2.7%) was downgraded to a Neutral from Buy at Roth Capital. GRPN (-3.2%) was downgraded to Underweight from Equal Weight at Barclays.
DELL (+0.8%), QIHU (+6.8%), ADI (-0.1%), and INTU (-0.0%) are among notable names in tech scheduled to report quarterly results today after the close.
