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Last Update: 06-Mar-13 10:48 ET
S&P Information Technology Index (-0.22%) trading lower today, trailing the broader market
The tech sector is trading lower today, trailing gains in the broader market. Semiconductors are showing relative strength, however, with the SOX trading 0.5% higher. Within the chip index, WFR (+3.2%) is a notable standout. Among other major indices, the SPY is trading 0.2% higher today, while the QQQ is down 0.1% and the NASDAQ is trading 0.1% higher on the session. Among tech bellwethers, FB (+1.4%) is showing notable strength, while EBAY (-2.6%) is under pressure. In tech earnings last night, QIHU (-7.2%) posted a beat and raise. In news, DELL's (-0.4%) Special Committee unanimously determined that the sale of the Company would be the best alternative for stockholders. Also, SOHU (-8.6%) responded to 'inaccurate market rumors' regarding going private and delisting. Among rumors, AAPL (-0.7%) iPhone 5S production now underway, according to sources. Among notable analyst upgrades this morning in the tech space, TIBX (+10.1%) was upgraded to Buy at BofA/Merrill. Wunderlich is adding TNGO (+1.1%) to the Wunderlich Best Ideas List. Among downgrades, Oppenheimer downgraded HRS (-3.0%) to Underperform and QIHU () was downgraded to Hold at Jefferies. QCOM (-1.7%) was removed from the Conviction Buy list at Goldman. There are no notable names in tech scheduled to report quarterly results today after the close.
The tech sector is trading lower today, trailing gains in the broader market. Semiconductors are showing relative strength, however, with the SOX