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Last Update: 19-Dec-11 11:30 ET
S&P Tech Sector Down 0.4%
The tech sector is trading lower today, trailing losses in the broader market. Semiconductors are trading in line with weakness in the tech space with the Philly Semi Index trading 1.0% lower. NXPI (-2.9%) and MU (-2.9%) are notable laggards in the chip index. Among other major indices, the S&P 500 is trading 0.5% lower, while the NASDAQ and the QQQ are trading 0.3% lower on the session. Among tech bellwethers, AAPL (+0.5%) is showing strength, while ORCL (-1.2%) is a notable underperformer.
In earnings, XLNX (-1.0%) lowers Q3 rev guidance below consensus, but raised gross margin guidance. In news, VPRT (-7.1%) announced it will acquire Webs for $117.5 mln. VPRT expects this transaction to be dilutive to non-GAAP earnings per share in fiscal 2012 and 2013, but accretive to non-GAAP earnings per share in fiscal 2014.
Among notable analyst upgrades this morning, BMC (+0.2%) was upgraded to Neutral at JP Morgan. Among downgrades, CALX (-9.1%) was downgraded to Underweight at Morgan Stanley.
RHT (-1.5%) is the notable name in tech scheduled to report results today after the close.
In earnings, XLNX (-1.0%) lowers Q3 rev guidance below consensus, but raised gross margin guidance. In news, VPRT (-7.1%) announced it will acquire Webs for $117.5 mln. VPRT expects this transaction to be dilutive to non-GAAP earnings per share in fiscal 2012 and 2013, but accretive to non-GAAP earnings per share in fiscal 2014.
Among notable analyst upgrades this morning, BMC (+0.2%) was upgraded to Neutral at JP Morgan. Among downgrades, CALX (-9.1%) was downgraded to Underweight at Morgan Stanley.
RHT (-1.5%) is the notable name in tech scheduled to report results today after the close.
