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Last Update: 15-Dec-11 10:59 ET
S&P Tech Sector Is Down Modestly, While the S&P 500 Is In Positive Territroy
The tech sector is trading slightly lower today, trailing gains in the broader market. Semiconductors are showing relative strength in the tech space, however, with the Philly Semi Index trading 0.5% higher. NVLS (+21.8%) is lifting the chip index after it was acquired. Among other major indices, the S&P 500 is trading 0.4% higher, while the NASDAQ is trading flat and the QQQ is 0.2% lower on the session. Among tech bellwethers, CSCO (-2.7%) is a notable underperformer.
In earnings last night, PAY (-7.1%) reported Q4 beat and provided mixed Q1 guidance, but upside FY12 guidance.
In news last night, LRCX (-3.2%) announced it entered into a merger agreement to acquire NVLS (+21.8%) in an all-stock transaction valued at ~$3.3 billion.
Among notable analyst ratings changes this morning, LEAP (+7.2%) and PCS (+4.3%) were upgraded to Buy at Mizuho, SWKS (+2.5%) was upgraded to Buy at Deutsche Bank, BRCM (+0.5%) was upgraded to Outperform at Wells Fargo. Also, AAPL (0.0%) was named a long Research Tactical Idea at Morgan Stanley.
ACN (+0.8%), RIMM (-0.2%), and ADBE (+0.8%) are the notable names in tech scheduled to report results today after the close.
In earnings last night, PAY (-7.1%) reported Q4 beat and provided mixed Q1 guidance, but upside FY12 guidance.
In news last night, LRCX (-3.2%) announced it entered into a merger agreement to acquire NVLS (+21.8%) in an all-stock transaction valued at ~$3.3 billion.
Among notable analyst ratings changes this morning, LEAP (+7.2%) and PCS (+4.3%) were upgraded to Buy at Mizuho, SWKS (+2.5%) was upgraded to Buy at Deutsche Bank, BRCM (+0.5%) was upgraded to Outperform at Wells Fargo. Also, AAPL (0.0%) was named a long Research Tactical Idea at Morgan Stanley.
ACN (+0.8%), RIMM (-0.2%), and ADBE (+0.8%) are the notable names in tech scheduled to report results today after the close.
