In tech earnings, WBSN (+3.9%) guided higher in conjunction with naming a CEO. XXIA (+5.8%) and AVNW (+8.1%) also raised guidance. In news, Gartner data revealed that HPQ (+2.2%) won back PC market share. Among rumors, AAPL (-3.2%) cut orders from some suppliers for iPhone 5 by half following weak demand, according to reports. Also, VRNT (+7.4%) is in talks to be acquired by NICE (+6.4%) for $1.5 bln, 19% premium, according to reports. Among notable analyst upgrades this morning in the tech space, CSCO (+1.5%) was upgraded at Baird and William Blair, FB (-2.8%) was upgraded to Buy at Deutsche Bank, FIO (+4.1%) and HPQ (+2.2%) were upgraded at JP Morgan and XLNX (+0.1%) and ADI (+0.9%) were upgraded to Outperform at Credit Suisse. Among downgrades, ARMH (-1.2%) was downgraded to Neutral at Piper Jaffray, EMC (-1.0%) and IBM (-1.2%) were downgraded at JP Morgan, NOK (-3.0%) was downgraded to Underweight at Barclays, MXIM (-2.0%) was downgraded to Neutral at Credit Suisse, JDSU (-1.7%) was downgraded to Neutral at Goldman and S (-3.3%) was downgraded at JP Morgan and UBS. There are no notable names in tech scheduled to report quarterly results today after the close.






