The tech sector is trading higher today, outpacing gains in the broader market. Semiconductors are also showing relative strength with the Philly Semi Index trading 2.5% higher. WFR (+9.0%) is a notable leader in that chip index. Among other major indices, the SPY is trading 1.3% higher today, while the QQQ is up 1.6% and the NASDAQ is trading 1.5% higher on the session. Among tech bellwethers, TXN (+3.0%) is showing notable strength, while FB (-1.2%) is under pressure once again.
In earnings last night, GWRE (+10.4%) posted a Q3 earnings and revenue beat. In news, ACOM (+10.9%) is reportedly considering a sale. Also, LNKD (-0.4%) experienced a security breach leaking passwords, according to reports. Among notable analyst upgrades this morning, GRPN (+8.1%) was upgraded to Hold at Stifel Nicolaus. While in downgrades, SYMC (+0.3%) was downgraded to Mkt Perform at FBR, RAX (-2.5%) was downgraded to Hold at Jefferies, and VSH (+0.6%) was downgraded to Neutral at JP Morgan.
VRNT (+0.8%) is the only notable name in tech scheduled to report quarterly results today after the close.






