In tech earnings last night, XRTX (-3.7%) and SNX (-2.5%) posted quarterly beats, but guided lower. In news, XRX (-0.4%) announced that CFO Luca Maestri is leaving the company to assume the role of corporate controller at AAPL (-0.5%). Among rumors, we are hearing IBM (+0.8%) for SPLK (+5.8%) takeover chatter making the rounds. Among notable analyst upgrades this morning in the tech space, MXIM (+0.4%) was upgraded to Overweight at JP Morgan and NOK (+1.0%) was upgraded to Buy from Sell at Societe Generale. Among downgrades, GLW (-3.7%) was downgraded to Neutral at Goldman, RIMM (-0.1%) was downgraded to Underperform at BMO, FISV (-0.8%) was downgraded to Neutral at JP Morgan and EA (+0.4%) was downgraded to Neutral at Piper Jaffray. There are no notable names in tech scheduled to report quarterly results today after the close.
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