The tech sector is trading lower today, along slight losses in the broader market. Semiconductors are showing relative strength in the tech space with the Philly Semi Index trading roughly unchanged on the session. Among chips in the index, MU (+1.6%) is a notable leader. Among other major indices, the S&P 500 and the NASDAQ are trading 0.1% lower. The QQQ, meanwhile, is trading 0.02% lower. Among tech bellwethers, HPQ (+0.37%) is showing strength, while ORCL (-1.1%) and INTC (-0.6%) are under pressure.
In earnings last night, ADBE (-5.22%) and JBL (+3.77%) both reported quarterly beats and offered inline guidance. JBL also authorized a stock repurchase of up to $200 million.
In news, there were reports circulating that AAPL (0.4%) may enter TV display business later this yr.
Among the more notable analyst ratings changes this morning, FFIV (+3.34%) was upgraded to Overweight at Barclays, Collins Stewart upgraded HSOL (+14.7%) to Buy, CTCT (+3.8%) was upgraded to Buy at Needham, and VOD (-0.3%) was upgraded to Buy at BofA/Merrill.
RHT (-0.3%) is the only notable tech name set to report results today after the close.






