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Last Update: 11-Feb-13 09:59 ET
S&P Information Technology Index (-0.2%) trading lower along with the broader market
The tech sector is trading lower today, roughly inline with losses in the broader market. Semiconductors are showing relative weakness as well with the SOX trading 0.3% lower. Within the chip index, POWI (-3.5%) is a notable laggard. Among other major indices, the SPY is trading 0.2% lower today, while the QQQ and the NASDAQ are trading 0.3% lower on the session. Among tech bellwethers, AAPL (+0.7%) is showing notable strength, while GOOG (-1.3%) is under pressure.
In tech earnings this morning, MITL (-2.0%) lowered guidance. In news, GOOG (-1.3%) disclosed Friday night that Eric Schmidt adopted a stock trading plan; Eric Schmidt intends to sell up to ~3.2 mln shares of Class A common stock. Among rumors, AAPL (+0.7%) is developing a new smart watch, according to reports. Among notable analyst upgrades this morning in the tech space, VMW (-1.6%) was upgraded to Overweight at Evercore. Among downgrades, POWI (-3.4%) was downgraded to Hold at Deutsche Bank, S (-0.4%) was downgraded to Neutral at Atlantic Equities, CCUR (-7.5%) was downgraded to Hold at Noble and LNKD (-0.6%) was downgraded to Market Perform at Northland. TWTC (-0.5%) is a notable name in tech scheduled to report quarterly results today after the close.
In tech earnings this morning, MITL (-2.0%) lowered guidance. In news, GOOG (-1.3%) disclosed Friday night that Eric Schmidt adopted a stock trading plan; Eric Schmidt intends to sell up to ~3.2 mln shares of Class A common stock. Among rumors, AAPL (+0.7%) is developing a new smart watch, according to reports. Among notable analyst upgrades this morning in the tech space, VMW (-1.6%) was upgraded to Overweight at Evercore. Among downgrades, POWI (-3.4%) was downgraded to Hold at Deutsche Bank, S (-0.4%) was downgraded to Neutral at Atlantic Equities, CCUR (-7.5%) was downgraded to Hold at Noble and LNKD (-0.6%) was downgraded to Market Perform at Northland. TWTC (-0.5%) is a notable name in tech scheduled to report quarterly results today after the close.
