In earnings last night, NVDA (-1.8%) posted a slight beat, however reported disappointing guidance. Elsewhere, NTAP (+6.0%) reported an in line quarter.
In news, there were reports that Alibaba was planning on agreeing to terms for a $3 billion loan. In addition, there were reports that More cities in China have stopped AAPL (-1.0%) Ipad orders
Among notable analyst upgrades this morning, ITRI (+18.6%) was upgraded to Buy from Hold at ThinkEquity following strong earnings, AMZN (-4.1%) was downgraded to Equal Weight from Overweight at Morgan Stanley, WFT (-0.8%) was upgraded to Hold from Underperform at Jefferies. MXIM (+1.6%) was initiated with an Outperform at RBC Capital.
AMAT (+0.8%), BIDU (+0.6%) and RP (-8.0%) are among notable tech names to report tonight after the close.






