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Last Update: 11-Dec-12 10:51 ET
S&P Information Technology Index (+1.6%) trading higher today, ahead of the broader market
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 1.7% higher. Within the chip index, NXPI (+5.4%) is a notable standout. Among other major indices, the SPY is trading 0.8% higher today, while the QQQ is up 1.5% and the NASDAQ is trading 1.2% higher on the session. Among tech bellwethers, TXN (+2.9%) and AAPL (+2.7%) is showing notable strength. In tech earnings last night, TXN (+2.9%) narrowed its guidance range within consensus for the company's mid qtr update. Also, NATI (+1.6%) tightened guidance for Q4. In news, TNS (+43.1%) announced it will be acquired by an affiliate of Siris Capital Group for $21.00 per share. TDC (+4.2%), UIS (+4.0%), and LPSN (+3.7%) all announced stock repurchase plans. Also, it was reported that CHU (-0.4%) sold 300K AAPL (+2.7%) iPhone pre orders in China. In notable analyst upgrades this morning in the tech space, LFUS (+1.4%) was upgraded to Buy at Sidoti. Also, underwriters at RKUS (-5.5%) initiated coverage (Morgan Stanley with Overweight, Opco with Outperform, Goldman with Neutral, etc.). Among notable downgrades, ARW (-1.2%) was downgraded to Underperform at Credit Agricole. There are no notable names in tech scheduled to report quarterly results today after the close.
The tech sector is trading higher today, ahead of gains in the broader market. Semiconductors are showing relative strength as well with the SOX