The tech sector is trading lower today, in line with losses in the broader market. Semiconductors are showing in-line weakness in the tech space with the Philly Semi Index trading 1.9% lower. Among chips in the index, STM (-5.0%) is a notable laggard. Among other major indices, the S&P 500 is trading 1.8% lower while the NASDAQ is trading 1.6% higher. The QQQ, meanwhile, is trading 1.7% lower. Among tech bellwethers, ORCL (-2.6%) and MSFT (-2.0%) are under pressure.
There were no notable tech names that reported quarterly results. In news, there were reports that DLB (-1.3%) is suing RIMM (-1.4%) for patent infringement. In rumors, we are hearing renewed BBBB (+4.3%) takeover hatter making the rounds.
Among the more notable analyst upgrades this morning, NTAP (+1.4%) was upgraded to Outperform at Credit Suisse, TTMI (+4.8%) was upgraded to Buy at UBS, ARUN (-1.9%) was upgraded to Buy at UBS, and WDC (-1.7%) was upgraded to Buy at Standpoint Research.
There are no notable tech names set to report results today after the close.






