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Last Update: 16-Jan-13 10:48 ET
S&P Information Technology Index (+0.6%) trading higher today, ahead of the broader market
The tech sector is trading higher today, ahead of slight losses in the broader market. Semiconductors are showing relative strength as well with the SOX trading 0.7% higher. Within the chip index, CRUS (+4.6%) is a notable standout. Among other major indices, the SPY is trading 0.1% lower today, while the QQQ is up 0.5% and the NASDAQ is trading 0.2% higher on the session. Among tech bellwethers, AAPL (+3.6%) is showing notable strength, while GOOG (-0.9%) is under pressure.
In tech earnings last night, LLTC (+0.6%) posted a miss and guided lower, while TTMI (+1.2%) guided at the high end of its previous range. This morning, WNS (+2.3%) reported slighter better-than-expected qtrly results and guidance. In news, CRM (-2.6%) is trading lower attributed to filings from the company in response to SEC comments/questions regarding last year's 10-K filing that was filed on 3/9/2012. Among notable analyst upgrades this morning in the tech space, SNCR (+3.9%) was upgraded to Outperform at Credit Suisse. Also, DCM (+1.5%) was added to the Conviction Buy list at Goldman. Among downgrades, VOD (-2.2%) was downgraded to Hold at Deutsche Bank, ARMH (-0.1%) was downgraded to Neutral at UBS, AAPL (+3.4%) was downgraded to Sector Perform at Pacific Crest, YELP (-3.0%) was downgraded to Under Perform at Northland and ARW (-2.8%) was downgraded to Mkt Perform at Raymond James. EBAY (-0.3%) is the only notable name in tech scheduled to report quarterly results today after the close.
In tech earnings last night, LLTC (+0.6%) posted a miss and guided lower, while TTMI (+1.2%) guided at the high end of its previous range. This morning, WNS (+2.3%) reported slighter better-than-expected qtrly results and guidance. In news, CRM (-2.6%) is trading lower attributed to filings from the company in response to SEC comments/questions regarding last year's 10-K filing that was filed on 3/9/2012. Among notable analyst upgrades this morning in the tech space, SNCR (+3.9%) was upgraded to Outperform at Credit Suisse. Also, DCM (+1.5%) was added to the Conviction Buy list at Goldman. Among downgrades, VOD (-2.2%) was downgraded to Hold at Deutsche Bank, ARMH (-0.1%) was downgraded to Neutral at UBS, AAPL (+3.4%) was downgraded to Sector Perform at Pacific Crest, YELP (-3.0%) was downgraded to Under Perform at Northland and ARW (-2.8%) was downgraded to Mkt Perform at Raymond James. EBAY (-0.3%) is the only notable name in tech scheduled to report quarterly results today after the close.
