The tech sector is trading higher today, in line with gains in the broader market. Semiconductors are showing relative weakness in the tech space, however, with the Philly Semi Index trading 0.8% higher. Among chips in the index, MU is outpacing the rest trading 4.4% higher, while ALTR (-2.1%) is a notable laggard. Among other major indices, the S&P 500 is trading higher (+1.0%), while the NASDAQ is trading 1.2% higher. The QQQ, meanwhile, is trading 1.0% higher. Among tech bellwethers, ORCL (+1.6%) and AAPL (+1.4%) are showing relative strength.
In news, ERTS (-0.4%) announced it will acquire PopCap Games in a deal that is expected to be at least ten-cents accretive in FY13. ERTS also raised Q1 guidance and reaffirms FY12 EPS. In earnings, ASML (+0.5%) and ADTN (-8.4%) posted a Q2 beats.
Among notable analyst upgrades this morning, Brigantine upgraded AVID (+6.4%) to Buy. Also of note, GOOG (+1.1%) was initiated with a Buy at JP Morgan. There were no major downgrades in the space.
There are no notable tech names set to report results today after the close.






