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Last Update: 13-Feb-12 10:07 ET
S&P Tech Sector Trading Higher, About In-line With The S&P 500
The tech sector is trading higher today, along with gains in the broader market. Semiconductors are showing relative weakness in line with the tech space with the Philly Semi Index trading only 0.1% higher. AMD (+3.1%) is a notable leader in the chip index, while CREE (-2.6%) is a laggard. Among other major indices, the SPY is trading 0.6% higher, while the NASDAQ and the QQQ are trading 0.8% higher on the session. Among tech bellwethers, AAPL (+1.4%) is showing strength, while TXN (-0.7%) are under a little pressure.
In news, TXCC (+3.9%) announced at-the-market issuance program to sell up to $10 mln in stock. Among rumors, we are hearing APKT (+3.1%) takeover chatter making the rounds.
Among notable analyst upgrades this morning, NVDA (+0.9%) was upgraded to Outperform at FBR Capital and AMD (+3.1%) was upgraded to Outperform at Bernstein. Among downgrades, MRVL (-1.6%) and BRCM (-1.0%) were downgraded to Hold at The Benchmark Company, NTAP (-1.4%) was downgraded to Hold at ThinkEquity and MWW (-3.2%) was downgraded to Sell at Citigroup.
FIS (+1.2%) is the notable name in tech scheduled to report results today after the close.
In news, TXCC (+3.9%) announced at-the-market issuance program to sell up to $10 mln in stock. Among rumors, we are hearing APKT (+3.1%) takeover chatter making the rounds.
Among notable analyst upgrades this morning, NVDA (+0.9%) was upgraded to Outperform at FBR Capital and AMD (+3.1%) was upgraded to Outperform at Bernstein. Among downgrades, MRVL (-1.6%) and BRCM (-1.0%) were downgraded to Hold at The Benchmark Company, NTAP (-1.4%) was downgraded to Hold at ThinkEquity and MWW (-3.2%) was downgraded to Sell at Citigroup.
FIS (+1.2%) is the notable name in tech scheduled to report results today after the close.
