The tech sector is trading higher today, inline with gains in the broader market. Semiconductors are showing relative strength with the Philly Semi Index trading 1.3% higher. CREE (+3.2%) is a notable leader in that chip index.
Among other major indices, the SPY is trading 0.8% higher today, while the QQQ is up 0.8% and the NASDAQ is trading 0.9% higher on the session. Among tech bellwethers, ORCL (+2.1%) is showing notable strength, while FB (-2.7%) is under pressure.
In earnings this morning, ENTR (+30.1%) reported upside guided. In news, COOL (+13.3%) confirmed its partnership with ZNGA (-4.9%). FB's (-2.7%) quiet period was lifted today, so many firms on Wall Street were able to publish coverage on the stock. To recap, there has been 8 positive ratings, 7 neutral ratings, and 1 underperform rating.
Among notable analyst upgrades this morning, RVBD (-0.5%) was upgraded to Hold at Jefferies and SINA (+2.3%) was upgraded to Buy at UBS. While in downgrades, IFNNY (-2.6%) was downgraded at HSBC and JP Morgan. PAYX (+1.2%) and PRGS (+1.3%) were notable names in tech scheduled to report quarterly results today after the close.






