The tech sector is trading higher today, ahead of gains in the broader market. Semiconductors are showing relative strength in the tech space with the Philly Semi Index trading 2.0% higher. Among chips in the index, RBCN (+7.6%) is a notable leader, while NXPI (-0.3%) is lagging. Among other major indices, the S&P 500 is trading 1.0% higher, while the NASDAQ is trading 1.4% higher. The QQQ, meanwhile, is trading 1.5% higher. Among tech bellwethers, GOOG (+2.7%) is showing relative strength.
In earnings last night, PWRD (+13.1%) and FMCN (+6.2%) posted quarterly beats.
In news, Samsung Mobile Display and PANL (+18.3%) announced entry into OLED patent license and supplemental material purchase agreements. Also, RP (-12.9%) announced it will acquire Multifamily Technology Solutions for approx. $74.4 mln and updated guidance. In rumors, we are hearing renewed AAPL (+1.8%) for ARMH (+6.3%) takeover chatter making the rounds.
Among notable ratings changes this morning, JNPR (+3.1%) was upgraded to Outperform at Morgan Keegan, Brigantine upgraded PANL (+18.3%) to Buy, Caris upgraded TIVO (+3.5%) to Above Average, and NVDA (+7.6%) was upgraded to Outperform at Wells Fargo.
AVGO (+0.2%) is the notable tech name set to report results today after the close.






