The tech sector is trading lower today, slightly worse than the losses in the
broader market. Semiconductors are also trading in line with weakness in the
tech space with the Philly Semi Index trading 2.6% lower. Among chips in the
index, STM (-10.5%) is a notable laggard. Among other major indices, the S&P 500
is trading 2.7% lower, while the NASDAQ is trading 2.4% lower. The QQQ,
meanwhile, is trading 2.3% lower. Among tech bellwethers, ORCL (-3.6%) is under
notable pressure.
In earnings this morning, FCS (0.0%) lowered its Q3 guidance and PRGS (-6.9%)
issued downside guidance. In news, HOLI (+4.9%) announced that several members
of the co management, lead by the Chairman and CEO, have purchased approximately
725,467 shares of Hollysys as of today.
Among notable analyst upgrades this morning, RIMM (-2.5%) was upgraded to
Outperform from Sector Perform at Scotia. Among downgrades, KLAC (-4.1%) was
downgraded to Underperform at RBC.
PAY (-2.6%) is the notable name in tech set to report results today after the
close.






