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Last Update: 21-Feb-12 13:53 ET
S&P Tech Sector Up 0.3%, In-line With S&P 500
The tech sector is trading higher today, slightly ahead of gains in the broader market. Semiconductors are showing relative weakness in the tech space, however, with the Philly Semi Index trading 0.5% lower. KLAC (-3.4%) is a notable laggard in the chip index, while STM (+6.6%) is showing strength. Among other major indices, the SPY and QQQ are trading 0.4% higher, while the NASDAQ is 0.2% higher on the session. Among tech bellwethers, AAPL (+1.9%) is showing strength, while ORCL (-0.6%) is under pressure.
In earnings, CIEN (+7.3%) lowered Q4 revenue guidance, while DAKT (-10.0%) posted a mixed qtr.
In news, CHA (+2.5%) has singed an agreement with AAPL (+1.9%) to sell iPhones, according to reports. Among a busy day in rumors, we are hearing ASIA (+8.6%), RIMM (+0.5%), and PCS (+0.1%) takeover chatter making the rounds.
Among notable analyst upgrades this morning, AEIS (+7.7%) was upgraded to Buy at Citigroup and DANG (+1.7%) was upgraded to Outperform at Credit Suisse.
Among downgrades, ORCL (-0.6%) was downgraded to Market Perform at JMP, KLAC (-3.5%) and LRCX (-2.9%) were downgraded to Neutral at JP Morgan, INFY (-0.1%) was downgraded to Neutral at Credit Suisse, OVTI (-0.7%) was downgraded to Neutral at Lazard and RAX (-0.3%) was downgraded to Neutral at Cowen.
BRCD (-1.6%), DELL (+0.2%), and INTU (+0.3%) are some notable names in tech scheduled to report results today after the close.
In earnings, CIEN (+7.3%) lowered Q4 revenue guidance, while DAKT (-10.0%) posted a mixed qtr.
In news, CHA (+2.5%) has singed an agreement with AAPL (+1.9%) to sell iPhones, according to reports. Among a busy day in rumors, we are hearing ASIA (+8.6%), RIMM (+0.5%), and PCS (+0.1%) takeover chatter making the rounds.
Among notable analyst upgrades this morning, AEIS (+7.7%) was upgraded to Buy at Citigroup and DANG (+1.7%) was upgraded to Outperform at Credit Suisse.
Among downgrades, ORCL (-0.6%) was downgraded to Market Perform at JMP, KLAC (-3.5%) and LRCX (-2.9%) were downgraded to Neutral at JP Morgan, INFY (-0.1%) was downgraded to Neutral at Credit Suisse, OVTI (-0.7%) was downgraded to Neutral at Lazard and RAX (-0.3%) was downgraded to Neutral at Cowen.
BRCD (-1.6%), DELL (+0.2%), and INTU (+0.3%) are some notable names in tech scheduled to report results today after the close.
