The tech sector is trading higher today, just outpacing gains in the broader market. Semiconductors are trading inline with strength in the tech space with the Philly Semi Index trading 1.7% higher. RBCN (+6.8%) is a notable leader in the chip index. Among other major indices, the S&P 500, the NASDAQ, and the QQQ are all trading 1.6% higher. Among tech bellwethers, ORCL (+3.0%) is showing notable strength.
There were no notable earnings in the tech space. In news, SFSF (+51.3%) announced it was to be acquired by SAP (-1.2%) for $40 per share.
TLEO (+19.1%) is trading higher in sympathy. Among notable analyst upgrades this morning, TLEO (+19.1%) was upgraded to Outperform at BMO Capital Markets and TEL (+2.9%) was upgraded to Buy at Goldman. Among downgrades, MOLX (+0.8%) and ADSK (+0.4%) were downgraded at Goldman.
There are no notable names in tech scheduled to report results today after the close.






