Last Update: 04-Mar-13 10:43 ET
S&P Information Technology Index (-0.4%) trading lower today, trailing the broader market
The tech sector is trading lower today, just behind narrower losses in the broader market. Semiconductors are showing relative weakness as well with the SOX trading 0.7% lower. Within the chip index, CRUS (-2.2%) is a notable laggard. Among other major indices, the SPY is trading 0.2% lower today, while the QQQ and the NASDAQ are trading 0.3% lower on the session. Among tech bellwethers, GOOG (+0.7%) is showing notable strength, while AAPL (-1.1%) is under pressure.
In tech earnings this morning, TECD (-3.8%) reported a solid Q4 beat and SSYS (+7.4%) posted a slight beat and raise qtr. Among notable analyst upgrades this morning in the tech space, YHOO (+1.9%) and LXK (+4.4%) were upgraded at Barclays and ADI (-0.4%), LLTC (-0.4%), MCHP (0.0%), and ISIL (+0.01%) were upgraded at ISI. Among downgrades, MU (+0.7%) was downgraded to Neutral at Lazard and ASML (-1.2%) was downgraded to Underperform at RBC. There are no notable names in tech scheduled to report quarterly results today after the close.
The tech sector is trading lower today, just behind narrower losses in the broader market. Semiconductors are showing relative weakness as well with