The tech sector is trading higher today, ahead of gains in the broader market. Semiconductors are showing relative strength as well with the SOX trading 0.7% higher. Within the chip index, MU (+3.3%) and STM (+3.3%) are notable standouts. Among other major indices, the SPY is trading 0.1% higher today, while the QQQ and theNASDAQ are trading 0.4% higher on the session.
Among tech bellwethers, FB (-1.9%) is once again showing notable weakness.
In news, IN (+22.7%) announced it will be acquired by HON (-0.4%) for $10/share in cash.
There are no notable tech earnings this morning.
Among rumors, we are hearing chatter that Icahn may file a significant stake in HPQ (+4.1%) making the rounds.
In notable analyst upgrades this morning in the tech space, CMTL (+5.8%) was upgraded to Overweight at JPMorgan, PLXS (+7.3%) and STM (+3.3%) were upgraded at BofA/Merrill and Wunderlich upgraded CNQR (+5.2%) to Buy.
There are no notable downgrades in the sector.
There are no notable names in tech scheduled to report quarterly results today after the close.






