The tech sector is trading higher today, inline with marginal gains in the broader market. Semiconductors are also showing slight relative weakness with the Philly Semi Index trading 0.1% lower. STM (+2.3%) is a notable leader in that chip index, while VECO (-2.4%) lags. Among other major indices, the SPY is trading 0.4% higher today, while the QQQ is up 0.3% and the NASDAQ is trading 0.2% higher on the session. Among tech bellwethers, AAPL (+2.2%) is showing notable strength.
In earnings last night, SEAC (-3.7%) posted a Q1 earnings and revenue miss, while VRNT (+4.2%) reported a quarterly beat. In news, CACI (+10.4%) announced a new share repurchase program, its CEO will retire, and offered revised guidance. Virgin Mobile USA; S (+0.7%) announced it will offer Apple's AAPL (+0.4%) iPhone to its prepaid customers beginning Friday, June 29. Also, ATVI (-2.9%) is trading lower following reports out that VIVEF (0.0%) is considering sale of its stake in ATVI.
Among notable analyst upgrades this morning, Oppenheimer upgrades SINA (+2.9%) to Outperform and CACI (+10.4%) was upgraded to Buy at Lazard. While in downgrades, JNPR (-3.8%) was downgraded to Hold at Needham. CMTL (-0.1%) is the only notable name in tech scheduled to report quarterly results today after the close.






