The tech sector is trading lower only slightly, inline with losses in the broader market. Semiconductors are outperforming the broader tech space with the Philly Semi Index trading 1.2% higher. CRUS (+3.3%) is a notable leader in that index, while IDCC (-2.1%) is a notable laggard. Among other major indices, the S&P 500 is trading 0.1% higher, while the NASDAQ is trading 0.4 lower. The QQQ, meanwhile, is trading 0.5% lower. Among tech bellwethers, AAPL (-1.1%) is showing notable weakness.
In earnings/guidance, SERV (+11.6%) raised 2011 rev guidance. Also, ANEN (-8.4%) lowered Q1 rev guidance. Finally, SCSC (+3.3%) raised Q1 revs guidance.
In news, ORCL (-0.8%) agreed to pay $199.5 million to resolve false claims suit. ERIC's (-2.1%) stake in joint venture may be bought out by SNE (-3.6%).
Among notable analyst ratings changes this morning, AMD (+1.6%) was upgraded to Perform at Oppenheimer. TSL (-11.1%) was initiated before the open with an Underperform at BofA/Merrill.
No notable names in tech are set to report results today after the close.






