The tech sector is trading higher today, along with slight gains in the broader market. Semiconductors are showing relative weakness, however, with the SOX trading 0.1% lower. Within the chip index, SPRD (-2.9%) is a notable laggard. Among other major indices, the SPY is trading 0.2% higher today, while the QQQ is up 0.4% and the NASDAQ is trading 0.3% higher on the session. Among tech bellwethers, FB (-3.4%) is once again showing notable weakness, while GOOG (+1.8%) is a standout leader. Among earnings in the tech space, GRPN (-23.2%) posted a mixed qtr, while COGO (+3.3%) reported a Q2 beat.
In news, there were reports out last night that RIMM (-3.2%) may license its BB10 software. There were no notable analyst upgrades this morning in the tech space. In downgrades, however, Stifel Nicolaus downgraded GPN (-1.0%) to Hold and SGMS (-7.5%) was downgraded to Hold at Deutsche Bank. Also of note, J.P. Morgan was out cautious on CVLT (-3.8%), which it believes could lose its DELL (-0.4%) business. JDSU (-2.3%) is the only notable name in tech scheduled to report quarterly results today after the close.






