The tech sector is trading just higher today, outpacing losses in the broader market. Semiconductors are showing relative strength as well with the SOX trading 0.6% higher. Within the chip index, SNDK (+1.9%) is a notable standout. Among other major indices, the SPY is trading 0.4% lower today, while the QQQ and the NASDAQ are trading 0.04% lower on the session. Among tech bellwethers, T (-1.4%) and VZ (-1.4%) are showing notable weakness.
There were no tech earnings of note this morning. In news, SCOR (+0.3%) reported U.S. retail e-commerce spending for the first 23 days of the Nov - Dec holiday season-to-date of $13.7 bln spent online, marking a 16% increase versus the corresponding days last year. In notable analyst upgrades this morning in the tech space, The Benchmark Company upgraded BRCM (+1.0%) to Buy and FB (+4.8%) was upgraded at Bernstein and BTIG. Also, YHOO (+2.3%) was added to Conviction Buy List at Goldman. Among downgrades, VRSN (-1.6%) was downgraded to Equal Weight at First Analysis. There are no notable names in tech scheduled to report quarterly results today after the close.






