The tech sector is trading lower today, trailing losses in the broader market. Semiconductors are showing relative weakness in the tech space with the Philly Semi Index trading 1.7% lower. Among chips in the index, MU (-12.9%) is the notable laggard. Among other major indices, the S&P 500 is trading 0.8% lower while the NASDAQ is trading 0.9% lower. The QQQ, meanwhile, is trading 1.3% lower. Among tech bellwethers, ORCL (-3.9%) and CSCO (-2.0%) are under pressure.
In earnings, ORCL (-3.9%) reported a slightly better-than-expected quarter and issued inline guidance. Elsewhere, MU (-12.9%) posted a miss and TIBX (+0.5%) reported a beat and upside guidance.
In news, COOL (+4.2%) will be added to the Russell Microcap Index. In M&A, there was a report from the WSJ that BBBB (+5.8%) may be acquired by buyout firm.
Among the more notable analyst ratings changes this morning, CMCSA (0.0%) was added to the Conviction Buy list at Goldman and CTCT (+1.7%) was upgraded to Neutral at Dougherty.
There are no notable tech names set to report results today after the close.






