EmailStory Stocks®
Archive
Last Update: 26-Jan-12 12:23 ET
S&P Tech Sector Down Modestly, In-line With The S&P 500
The tech sector is trading slightly lower today, along with losses in the broader market. Semiconductors are showing relative strength in the tech space, however, with the Philly Semi Index trading 0.1% higher. TER (+4.9%) is a standout, while SNDK (-9.2%) is a notable laggard in the chip index. Among other major indices, the S&P 500 is trading 0.2% lower, while the NASDAQ is trading 0.1% higher and the QQQ is 0.1% lower on the session. Among tech bellwethers, GOOG (+0.4%) is showing strength, while T (-2.1%) is a notable underperformer.
In earnings last night, SNDK (-9.2%), SYMC (-1.3%), and CTXS (-3.4%) each posted slight upside to its quarterly earnings results with inline revenues, but all offered downside guidance. This morning, NOK (+3.7%) posted a modest earnings beat, while T (-2.1%) reported a mixed Q4.
In news, RNWK (+29.7%) announced it has signed an agreement to sell a significant number of its patents and its video codec software to INTC (-0.7%) for a purchase price of $120 mln.
Among notable analyst upgrades this morning, EFII (+3.6%) was upgraded to Outperform at BMO Capital. Among downgrades, GLW (-2.4%) was downgraded to Underweight at Morgan Stanley and ADP (-2.0%) was downgraded at Well Fargo and Citi.
CLS (-1.5%), FSL (+2.6%), and JNPR (+0.7%) are the notable names in tech scheduled to report results today after the close.
In earnings last night, SNDK (-9.2%), SYMC (-1.3%), and CTXS (-3.4%) each posted slight upside to its quarterly earnings results with inline revenues, but all offered downside guidance. This morning, NOK (+3.7%) posted a modest earnings beat, while T (-2.1%) reported a mixed Q4.
In news, RNWK (+29.7%) announced it has signed an agreement to sell a significant number of its patents and its video codec software to INTC (-0.7%) for a purchase price of $120 mln.
Among notable analyst upgrades this morning, EFII (+3.6%) was upgraded to Outperform at BMO Capital. Among downgrades, GLW (-2.4%) was downgraded to Underweight at Morgan Stanley and ADP (-2.0%) was downgraded at Well Fargo and Citi.
CLS (-1.5%), FSL (+2.6%), and JNPR (+0.7%) are the notable names in tech scheduled to report results today after the close.
